Bokf Na Grows Position in Atkore Inc. (NYSE:ATKR)

Bokf Na grew its holdings in shares of Atkore Inc. (NYSE:ATKR) by 138.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,206 shares of the company’s stock after purchasing an additional 3,022 shares during the quarter. Bokf Na’s holdings in Atkore were worth $702,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Boston Partners increased its position in shares of Atkore by 12.0% during the 1st quarter. Boston Partners now owns 1,340,146 shares of the company’s stock valued at $254,733,000 after purchasing an additional 143,121 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Atkore by 28.7% during 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 during the last quarter. American Century Companies Inc. increased its position in shares of Atkore by 22.9% during 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 during the last quarter. Clearbridge Investments LLC increased its position 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 increased its position in shares of Atkore by 1.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock valued at $85,535,000 after purchasing an additional 4,852 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $175.00 to $100.00 in a report on Wednesday, August 7th. B. Riley decreased their price objective on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, KeyCorp decreased their price objective on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average 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 Monday. Atkore Inc. has a 52 week low of $80.11 and a 52 week high of $194.98. The business has a 50-day simple moving average of $111.41 and a two-hundred day simple moving average of $144.00. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49. The company has a market cap of $3.10 billion, a P/E ratio of 5.38 and a beta of 2.14.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The business had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. During the same quarter last year, the company earned $5.13 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. Research analysts anticipate that Atkore Inc. will post 12.69 earnings per share for the current fiscal year.

Atkore Announces Dividend

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

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the sale, the insider now owns 28,086 shares in the company, valued at approximately $2,681,370.42. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.56% of the company’s stock.

About Atkore

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.