Meeder Asset Management Inc. Buys Shares of 1,692 Atkore Inc. (NYSE:ATKR)

Meeder Asset Management Inc. bought a new position in Atkore Inc. (NYSE:ATKR) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,692 shares of the company’s stock, valued at approximately $143,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ATKR. Arizona State Retirement System increased its position in shares of Atkore by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock valued at $1,389,000 after buying an additional 85 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Atkore by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company’s stock worth $667,000 after acquiring an additional 99 shares in the last quarter. Meixler Investment Management Ltd. increased its holdings in shares of Atkore by 6.5% in the second quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock worth $263,000 after acquiring an additional 119 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Atkore by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock worth $555,000 after purchasing an additional 129 shares during the period. Finally, Riverwater Partners LLC lifted its holdings in shares of Atkore by 1.1% during the 2nd quarter. Riverwater Partners LLC now owns 14,310 shares of the company’s stock valued at $1,931,000 after purchasing an additional 159 shares in the last quarter.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the sale, the insider now owns 27,626 shares in the company, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.56% of the company’s stock.

Wall Street Analysts Forecast Growth

ATKR has been the topic of several research analyst reports. Loop Capital dropped their target price on shares of Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Royal Bank of Canada lowered shares of Atkore from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $175.00 to $100.00 in a report on Wednesday, August 7th. B. Riley reduced their target price on shares of Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, KeyCorp dropped their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Atkore presently has an average rating of “Moderate Buy” and a consensus price target of $131.60.

Atkore Trading Down 1.8 %

Atkore stock opened at $86.38 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The firm has a 50-day moving average of $87.66 and a 200-day moving average of $114.98. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 6.07 and a beta of 2.13. Atkore Inc. has a one year low of $80.11 and a one year high of $194.98.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 1.48%. Atkore’s dividend payout ratio is 8.99%.

About Atkore

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.