AQR Capital Management LLC Purchases 56,298 Shares of Atkore Inc. $ATKR

AQR Capital Management LLC grew its position in Atkore Inc. (NYSE:ATKR) by 112.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,237 shares of the company’s stock after purchasing an additional 56,298 shares during the quarter. AQR Capital Management LLC owned approximately 0.32% of Atkore worth $6,373,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Maverick Capital Ltd. bought a new stake in shares of Atkore in the 1st quarter valued at $862,000. Gates Capital Management Inc. boosted its stake in Atkore by 25.2% during the first quarter. Gates Capital Management Inc. now owns 3,265,061 shares of the company’s stock worth $195,871,000 after acquiring an additional 657,707 shares in the last quarter. Decade Renewable Partners LP boosted its stake in Atkore by 42.0% during the first quarter. Decade Renewable Partners LP now owns 83,522 shares of the company’s stock worth $5,010,000 after acquiring an additional 24,722 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in Atkore by 27.5% during the first quarter. Orbis Allan Gray Ltd now owns 251,030 shares of the company’s stock worth $15,059,000 after acquiring an additional 54,100 shares in the last quarter. Finally, Vident Advisory LLC boosted its stake in Atkore by 9.9% during the first quarter. Vident Advisory LLC now owns 16,881 shares of the company’s stock worth $1,013,000 after acquiring an additional 1,525 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ATKR shares. KeyCorp reissued a “sector weight” rating on shares of Atkore in a research note on Wednesday, August 6th. Citigroup reissued a “neutral” rating and set a $80.00 target price (up from $70.00) on shares of Atkore in a research note on Monday, June 9th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $79.57.

Atkore Stock Performance

ATKR opened at $61.29 on Friday. The company has a current ratio of 3.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average price is $65.52 and its two-hundred day moving average price is $64.91. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $105.28. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 19.64 and a beta of 2.16.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 19th. This represents a $1.32 annualized dividend and a yield of 2.2%. Atkore’s dividend payout ratio is presently 42.31%.

Insider Activity at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction dated 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 in the company, valued at $1,892,300.01. This represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.99% of the stock is currently owned by corporate insiders.

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.