Allianz Asset Management GmbH Lowers Position in Atkore Inc. $ATKR

Allianz Asset Management GmbH cut its holdings in Atkore Inc. (NYSE:ATKR) by 26.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,200 shares of the company’s stock after selling 3,000 shares during the quarter. Allianz Asset Management GmbH’s holdings in Atkore were worth $579,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its stake in Atkore by 4.0% in the second quarter. SummerHaven Investment Management LLC now owns 6,283 shares of the company’s stock worth $443,000 after acquiring an additional 244 shares during the period. Jones Financial Companies Lllp lifted its stake in Atkore by 61.8% in 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 period. Matrix Trust Co lifted its stake in Atkore by 7.8% in the second quarter. Matrix Trust Co now owns 4,133 shares of the company’s stock worth $292,000 after acquiring an additional 298 shares during the period. Harbour Investments Inc. lifted its stake in Atkore by 29.1% in the first quarter. Harbour Investments Inc. now owns 1,330 shares of the company’s stock worth $80,000 after acquiring an additional 300 shares during the period. Finally, Ausbil Investment Management Ltd lifted its stake in Atkore by 1.1% in the second quarter. Ausbil Investment Management Ltd now owns 32,769 shares of the company’s stock worth $2,312,000 after acquiring an additional 345 shares during the period.

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $59.37, for a total transaction of $59,370.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.99% of the stock is currently owned by company insiders.

Atkore Stock Performance

ATKR opened at $68.51 on Tuesday. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $105.28. The company has a quick ratio of 2.08, a current ratio of 3.09 and a debt-to-equity ratio of 0.52. The company has a market cap of $2.31 billion, a P/E ratio of 21.96 and a beta of 2.13. The firm’s 50-day moving average price is $61.71 and its 200-day moving average price is $65.45.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders 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 dividend yield of 1.9%. Atkore’s dividend payout ratio is 42.31%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings lowered shares of Atkore from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. KeyCorp reissued a “sector weight” rating on shares of Atkore in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.