William Blair Investment Management LLC Grows Stock Holdings in Atkore Inc. (NYSE:ATKR)

William Blair Investment Management LLC boosted its holdings in Atkore Inc. (NYSE:ATKR) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 395,388 shares of the company’s stock after buying an additional 20,229 shares during the period. William Blair Investment Management LLC’s holdings in Atkore were worth $53,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Atkore by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 200,175 shares of the company’s stock valued at $32,028,000 after buying an additional 3,036 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in shares of Atkore during the 2nd quarter valued at $4,158,000. Capital World Investors purchased a new position in shares of Atkore during the 1st quarter valued at $14,986,000. Sei Investments Co. grew its position in shares of Atkore by 44.3% during the 1st quarter. Sei Investments Co. now owns 65,913 shares of the company’s stock valued at $12,547,000 after purchasing an additional 20,244 shares in the last quarter. Finally, Boston Trust Walden Corp purchased a new position in shares of Atkore during the 2nd quarter valued at $23,306,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on ATKR shares. B. Riley reduced their price target on shares of Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. KeyCorp reduced their price target on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Royal Bank of Canada lowered shares of Atkore from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $132.00.

Atkore Stock Up 1.6 %

Shares of NYSE:ATKR opened at $86.36 on Friday. Atkore Inc. has a 52-week low of $80.11 and a 52-week high of $194.98. The firm has a fifty day moving average of $111.41 and a 200 day moving average of $144.14. The firm has a market capitalization of $3.10 billion, a PE ratio of 5.38 and a beta of 2.14. 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 earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.28. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The company had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. During the same period in the previous year, the business earned $5.13 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, research analysts anticipate that Atkore Inc. will post 12.69 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, August 20th. Atkore’s dividend payout ratio is presently 7.98%.

Insiders Place Their Bets

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

Atkore 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.