36,324 Shares in Atkore Inc. $ATKR Purchased by Deutsche Bank AG

Deutsche Bank AG bought a new stake in Atkore Inc. (NYSE:ATKR) during the second quarter, HoldingsChannel.com reports. The fund bought 36,324 shares of the company’s stock, valued at approximately $2,762,000.

Several other hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in shares of Atkore during the second quarter worth about $28,000. Kestra Investment Management LLC raised its position in shares of Atkore by 710.9% in the second quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after buying an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Atkore by 1,263.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock valued at $32,000 after buying an additional 480 shares during the period. Strs Ohio purchased a new position in shares of Atkore during the first quarter valued at approximately $36,000. Finally, Jones Financial Companies Lllp boosted its position in Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after acquiring an additional 246 shares during the last quarter.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 300 shares of Atkore stock in a transaction dated Monday, August 10th. The stock was 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. The trade was a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.10% of the stock is owned by corporate insiders.

Atkore Stock Up 0.0%

Shares of ATKR opened at $93.67 on Friday. The firm has a market cap of $3.16 billion, a PE ratio of -19.47 and a beta of 1.68. The company’s fifty day moving average is $81.49 and its two-hundred day moving average is $73.93. Atkore Inc. has a fifty-two week low of $53.75 and a fifty-two week high of $94.14. The company has a quick ratio of 2.04, a current ratio of 2.73 and a debt-to-equity ratio of 0.59.

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

Atkore Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ATKR shares. Weiss Ratings upgraded Atkore from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Roth Capital lowered Atkore from a “buy” rating to a “neutral” rating and raised their price target for the stock from $85.00 to $92.00 in a research note on Tuesday, August 4th. Citigroup lifted their price target on Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Atkore currently has an average 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.