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

Meeder Asset Management Inc. acquired a new position in shares of Atkore Inc. (NYSE:ATKR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,692 shares of the company’s stock, valued at approximately $143,000.

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

Atkore Trading Down 1.8 %

ATKR opened at $86.38 on Wednesday. The company has a market cap of $3.10 billion, a P/E ratio of 6.07 and a beta of 2.13. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $87.66 and its 200-day moving average is $114.98. Atkore Inc. has a 1-year low of $80.11 and a 1-year high of $194.98.

Atkore Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the transaction, the insider now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.56% of the company’s stock.

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.