191,253 Shares in Atkore Inc. $ATKR Purchased by PDT Partners LLC

PDT Partners LLC bought a new stake in shares of Atkore Inc. (NYSE:ATKR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 191,253 shares of the company’s stock, valued at approximately $14,543,000. Atkore accounts for approximately 0.8% of PDT Partners LLC’s holdings, making the stock its 23rd largest position. PDT Partners LLC owned approximately 0.57% of Atkore as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ATKR. Global Retirement Partners LLC acquired a new stake in Atkore in the second quarter worth approximately $28,000. Kestra Investment Management LLC increased its position in shares of Atkore by 710.9% during the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after purchasing an additional 391 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Atkore by 1,263.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock worth $32,000 after buying an additional 480 shares in the last quarter. Strs Ohio acquired a new stake in shares of Atkore in the first quarter valued at $36,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of 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 buying an additional 246 shares during the period.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 300 shares of Atkore stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $93.75, for a total value 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. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Atkore Trading Up 0.2%

Shares of NYSE ATKR opened at $93.67 on Wednesday. Atkore Inc. has a 12 month low of $53.75 and a 12 month high of $94.14. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -19.47 and a beta of 1.68. 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 simple moving average of $80.90 and a 200-day simple moving average of $73.55.

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

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 18th. Atkore’s dividend payout ratio (DPR) is presently -27.44%.

Wall Street Analyst Weigh In

ATKR has been the topic of a number of research analyst reports. Roth Capital lowered Atkore from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $85.00 to $92.00 in a report on Tuesday, August 4th. Citigroup upped their price target on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research note on Thursday, July 16th. 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 data from MarketBeat.com, Atkore currently has a consensus rating of “Hold” and an average target price of $143.33.

About Atkore

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.