Susquehanna Fundamental Investments LLC Purchases Shares of 38,611 Atkore Inc. (NYSE:ATKR)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Atkore Inc. (NYSE:ATKR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 38,611 shares of the company’s stock, valued at approximately $5,210,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ATKR. Boston Partners lifted its position in Atkore by 12.0% in the 1st quarter. Boston Partners now owns 1,340,146 shares of the company’s stock worth $254,733,000 after buying an additional 143,121 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Atkore by 28.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 973,116 shares of the company’s stock valued at $131,303,000 after purchasing an additional 216,997 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Atkore by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock valued at $104,395,000 after purchasing an additional 144,283 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Atkore by 48.4% during the 1st quarter. Clearbridge Investments LLC now owns 514,908 shares of the company’s stock valued at $98,018,000 after purchasing an additional 168,042 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Atkore by 1.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock worth $85,535,000 after purchasing an additional 4,852 shares during the period.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, August 12th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.56% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ATKR shares. KeyCorp reduced their price objective on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. Loop Capital lowered their price objective on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, B. Riley cut their target price on shares of Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.60.

Atkore Trading Up 0.4 %

NYSE ATKR opened at $85.63 on Monday. The stock has a market cap of $3.12 billion, a P/E ratio of 5.34 and a beta of 2.14. Atkore Inc. has a fifty-two week low of $80.11 and a fifty-two week high of $194.98. The stock has a 50 day simple moving average of $100.35 and a two-hundred day simple moving average of $138.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. The company had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.13 earnings per share. On average, analysts forecast that Atkore Inc. will post 12.69 earnings per share for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Tuesday, August 20th. 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.