DekaBank Deutsche Girozentrale Has $1.61 Million Position in Atkore Inc. $ATKR

DekaBank Deutsche Girozentrale grew its holdings in Atkore Inc. (NYSE:ATKR) by 30.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,580 shares of the company’s stock after purchasing an additional 5,300 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.07% of Atkore worth $1,606,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ATKR. Gates Capital Management Inc. lifted its stake in shares of Atkore by 25.2% in the first quarter. Gates Capital Management Inc. now owns 3,265,061 shares of the company’s stock valued at $195,871,000 after buying an additional 657,707 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Atkore by 43,389.8% in the first quarter. Pacer Advisors Inc. now owns 365,749 shares of the company’s stock valued at $21,941,000 after buying an additional 364,908 shares during the period. Federated Hermes Inc. lifted its stake in shares of Atkore by 29,230.4% in the first quarter. Federated Hermes Inc. now owns 209,419 shares of the company’s stock valued at $12,563,000 after buying an additional 208,705 shares during the period. Nuveen LLC bought a new stake in shares of Atkore in the first quarter valued at about $11,502,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Atkore by 33.4% in the first quarter. Victory Capital Management Inc. now owns 628,300 shares of the company’s stock valued at $37,692,000 after buying an additional 157,470 shares during the period.

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction that occurred 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 transaction, the insider owned 31,873 shares in the company, valued at approximately $1,892,300.01. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.99% of the company’s stock.

Atkore Stock Performance

NYSE:ATKR opened at $68.45 on Friday. Atkore Inc. has a 1 year low of $49.92 and a 1 year high of $105.28. The firm has a 50 day moving average of $61.50 and a 200-day moving average of $65.35. 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 stock has a market capitalization of $2.30 billion, a P/E ratio of 21.94 and a beta of 2.13.

Atkore Dividend Announcement

The company also recently announced 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 was Tuesday, August 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.9%. Atkore’s payout ratio is 42.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ATKR shares. Weiss Ratings cut shares of Atkore from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. KeyCorp restated a “sector weight” rating on shares of Atkore in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $79.57.

Atkore 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.