XTX Topco Ltd Acquires Shares of 7,348 Atkore Inc. (NYSE:ATKR)

XTX Topco Ltd acquired a new stake in Atkore Inc. (NYSE:ATKR) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 7,348 shares of the company’s stock, valued at approximately $991,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hodges Capital Management Inc. bought a new stake in Atkore in the second quarter valued at approximately $4,158,000. Capital World Investors bought a new stake in Atkore in the first quarter valued at approximately $14,986,000. Sei Investments Co. increased its stake in shares of Atkore by 44.3% during the first quarter. Sei Investments Co. now owns 65,913 shares of the company’s stock valued at $12,547,000 after buying an additional 20,244 shares during the period. Boston Trust Walden Corp purchased a new position in shares of Atkore during the second quarter valued at approximately $23,306,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Atkore by 1.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock valued at $85,535,000 after buying an additional 4,852 shares during the period.

Wall Street Analyst Weigh In

ATKR has been the topic of several research analyst reports. Royal Bank of Canada cut Atkore from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. Loop Capital reduced their target price on Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday. B. Riley reduced their target price on Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, KeyCorp reduced their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.60.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $47,735.00. Following the sale, the insider now directly owns 28,086 shares of the company’s stock, valued at approximately $2,681,370.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.56% of the company’s stock.

Atkore Price Performance

Shares of ATKR stock opened at $87.02 on Friday. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 5.43 and a beta of 2.15. The business’s fifty day moving average is $106.42 and its 200 day moving average is $141.31. Atkore Inc. has a twelve month low of $80.11 and a twelve month high of $194.98. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.28. The company had revenue of $822.40 million for the quarter, compared to analysts’ expectations of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $5.13 earnings per share. Research analysts expect that Atkore Inc. will post 12.69 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. Atkore’s dividend payout ratio is currently 7.98%.

Atkore Company Profile

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.