Atkore Inc. $ATKR Shares Purchased by Engineers Gate Manager LP

Engineers Gate Manager LP boosted its stake in Atkore Inc. (NYSE:ATKR) by 723.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 57,071 shares of the company’s stock after buying an additional 50,141 shares during the quarter. Engineers Gate Manager LP’s holdings in Atkore were worth $4,340,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in shares of Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after acquiring an additional 246 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Atkore by 15.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company’s stock worth $7,009,000 after acquiring an additional 16,028 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Atkore by 59.7% during the first quarter. Intech Investment Management LLC now owns 29,363 shares of the company’s stock worth $1,761,000 after purchasing an additional 10,972 shares in the last quarter. Strs Ohio acquired a new position in Atkore in the 1st quarter valued at $36,000. Finally, Norges Bank acquired a new position in Atkore in the 2nd quarter valued at $467,000.

Insider Buying and Selling

In other Atkore news, insider Mark Lamps sold 300 shares of Atkore stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $93.75, for a total transaction of $28,125.00. Following the transaction, the insider directly owned 35,803 shares of the company’s stock, valued at $3,356,531.25. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada set a $76.00 target price on shares of Atkore in a research note on Thursday, July 16th. Roth Capital lowered shares of Atkore from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $85.00 to $92.00 in a research report on Tuesday, August 4th. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Weiss Ratings upgraded shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $143.33.

Atkore Stock Up 0.1%

Shares of NYSE:ATKR opened at $94.21 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.73 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $85.37 and a two-hundred day moving average of $75.97. The stock has a market cap of $3.18 billion, a P/E ratio of -19.59 and a beta of 1.68. Atkore Inc. has a 52-week low of $53.75 and a 52-week high of $94.39.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Monday, August 3rd. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.53 by $0.39. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.The business had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. During the same quarter in the previous year, the firm earned $2.17 EPS. On average, research analysts expect that Atkore Inc. will post 5.15 earnings per share for the current year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, August 18th. Atkore’s dividend payout ratio (DPR) is presently -27.44%.

Atkore Profile

Atkore Inc (NYSE: ATKR) manufactures electrical, safety and infrastructure products for commercial, industrial, data center, utility, transportation and other construction markets. Its portfolio is designed to support the distribution, management and protection of electrical power and communications systems.

The company’s products include electrical conduit and fittings, cable management systems, wire and cable, metal framing, mechanical pipe, fire sprinkler pipe and related infrastructure components.