57,564 Shares in Atkore Inc. (NYSE:ATKR) Acquired by Holocene Advisors LP

Holocene Advisors LP bought a new position in Atkore Inc. (NYSE:ATKR) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 57,564 shares of the company’s stock, valued at approximately $4,878,000. Holocene Advisors LP owned about 0.16% of Atkore at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in Atkore by 26.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock worth $104,599,000 after buying an additional 261,234 shares during the last quarter. American Century Companies Inc. increased its stake in Atkore by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock worth $104,395,000 after purchasing an additional 144,283 shares during the period. Royce & Associates LP increased its stake in Atkore by 20.2% in the 3rd quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock worth $33,562,000 after purchasing an additional 66,533 shares during the period. William Blair Investment Management LLC increased its stake in Atkore by 5.4% in the 2nd quarter. William Blair Investment Management LLC now owns 395,388 shares of the company’s stock worth $53,350,000 after purchasing an additional 20,229 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Atkore by 23.5% in the 2nd quarter. Principal Financial Group Inc. now owns 336,835 shares of the company’s stock worth $45,449,000 after purchasing an additional 64,050 shares during the period.

Atkore Price Performance

Shares of ATKR stock opened at $93.65 on Thursday. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 7.41 and a beta of 2.10. The business’s fifty day moving average is $89.04 and its 200 day moving average is $109.57. Atkore Inc. has a twelve month low of $76.01 and a twelve month high of $194.98. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Thursday, November 21st. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.06). The firm had revenue of $788.30 million during the quarter, compared to analysts’ expectations of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. Atkore’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.63 earnings per share. Research analysts expect that Atkore Inc. will post 6.69 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, December 6th. Atkore’s dividend payout ratio (DPR) is 10.13%.

Insiders Place Their Bets

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the sale, the director now directly owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Daniel S. Kelly sold 13,071 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now directly owns 27,528 shares in the company, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,924 shares of company stock valued at $1,614,975. 2.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on ATKR shares. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. KeyCorp decreased their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Loop Capital reduced their target price on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 target price (up from $93.00) on shares of Atkore in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Atkore currently has a consensus rating of “Hold” and an average price target of $118.80.

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.