Atkore Inc. $ATKR Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in Atkore Inc. (NYSE:ATKR) by 38.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 78,512 shares of the company’s stock after purchasing an additional 21,942 shares during the period. Russell Investments Group Ltd.’s holdings in Atkore were worth $5,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Dogwood Wealth Management LLC acquired a new stake in Atkore during the 2nd quarter valued at approximately $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Atkore during the second quarter worth $28,000. Strs Ohio acquired a new position in Atkore during the first quarter valued at $36,000. New Age Alpha Advisors LLC purchased a new stake in Atkore in the first quarter valued at $37,000. Finally, Jones Financial Companies Lllp boosted its holdings in Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after purchasing an additional 246 shares during the last quarter.

Atkore Stock Performance

Shares of ATKR stock opened at $63.89 on Friday. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.54. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $91.96. The business’s 50 day moving average is $65.45 and its two-hundred day moving average is $65.84. The company has a market capitalization of $2.16 billion, a P/E ratio of -122.86 and a beta of 1.57.

Atkore (NYSE:ATKR) last announced its earnings results on Wednesday, November 19th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.61). Atkore had a positive return on equity of 12.98% and a negative net margin of 0.53%.The business had revenue of $752.01 million for the quarter, compared to analyst estimates of $733.61 million. During the same period in the previous year, the company earned $2.43 earnings per share. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. Analysts expect that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Friday, December 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. Atkore’s dividend payout ratio (DPR) is presently -253.85%.

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $64.75, for a total transaction of $64,750.00. Following the completion of the sale, the insider owned 29,923 shares of the company’s stock, valued at $1,937,514.25. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ATKR. KeyCorp reissued a “sector weight” rating on shares of Atkore in a report on Friday, November 14th. Citigroup decreased their price target on Atkore from $66.00 to $64.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Roth Capital lowered their price objective on Atkore from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Finally, Weiss Ratings lowered shares of Atkore from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.00.

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.