Northern Trust Corp Trims Stock Position in Atkore Inc. $ATKR

Northern Trust Corp lowered its position in shares of Atkore Inc. (NYSE:ATKR) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,856 shares of the company’s stock after selling 14,768 shares during the period. Northern Trust Corp owned 1.10% of Atkore worth $22,188,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ATKR. Harbor Capital Advisors Inc. grew its stake in Atkore by 97.0% during the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company’s stock valued at $32,000 after acquiring an additional 259 shares in the last quarter. GAMMA Investing LLC grew its stake in Atkore by 1,514.7% during the first quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $33,000 after acquiring an additional 515 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Atkore during the first quarter valued at approximately $37,000. Versant Capital Management Inc grew its stake in Atkore by 358.9% during the first quarter. Versant Capital Management Inc now owns 693 shares of the company’s stock valued at $42,000 after acquiring an additional 542 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Atkore by 384.0% during the first quarter. Signaturefd LLC now owns 905 shares of the company’s stock valued at $54,000 after acquiring an additional 718 shares in the last quarter.

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $59.37, for a total value of $59,370.00. Following the completion of the sale, the insider owned 31,873 shares of the company’s stock, valued at approximately $1,892,300.01. This represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Roth Capital set a $78.00 price target on shares of Atkore and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Citigroup reissued a “neutral” rating and issued a $80.00 price target (up previously from $70.00) on shares of Atkore in a research note on Monday, June 9th. KeyCorp reissued a “sector weight” rating on shares of Atkore in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada boosted their price target on shares of Atkore from $65.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $79.57.

Atkore Price Performance

Shares of Atkore stock opened at $58.17 on Monday. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $105.28. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 18.64 and a beta of 2.16. The company has a fifty day moving average of $68.12 and a 200-day moving average of $65.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.08 and a current ratio of 3.09.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.3%. Atkore’s dividend payout ratio is 42.31%.

Atkore Company 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.