Atkore Inc. $ATKR Stock Position Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Atkore Inc. (NYSE:ATKR) by 9.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 961,752 shares of the company’s stock after selling 100,601 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Atkore were worth $70,872,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. CWM LLC lifted its position in shares of Atkore by 14.2% in the 2nd quarter. CWM LLC now owns 6,357 shares of the company’s stock valued at $448,000 after acquiring an additional 792 shares in the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Atkore by 10.8% in the 2nd quarter. Clear Creek Financial Management LLC now owns 6,498 shares of the company’s stock valued at $458,000 after acquiring an additional 634 shares in the last quarter. KLP Kapitalforvaltning AS lifted its position in shares of Atkore by 4.8% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 17,600 shares of the company’s stock valued at $1,242,000 after acquiring an additional 800 shares in the last quarter. Dogwood Wealth Management LLC purchased a new stake in shares of Atkore in the 2nd quarter valued at approximately $26,000. Finally, SummerHaven Investment Management LLC lifted its position in shares of Atkore by 4.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 6,283 shares of the company’s stock valued at $443,000 after acquiring an additional 244 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. KeyCorp restated a “sector weight” rating on shares of Atkore in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Atkore in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Atkore currently has an average rating of “Hold” and an average price target of $79.57.

Atkore Stock Up 3.3%

ATKR stock opened at $63.62 on Tuesday. Atkore Inc. has a 12-month low of $49.92 and a 12-month 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 $2.14 billion, a price-to-earnings ratio of 20.39 and a beta of 2.13. The company has a 50 day moving average of $59.76 and a two-hundred day moving average of $64.76.

Atkore Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.1%. Atkore’s dividend payout ratio (DPR) is currently 42.31%.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the firm’s stock in a transaction on 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 approximately $1,892,300.01. This trade represents a 3.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.99% of the company’s stock.

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.