Atkore Inc. (NYSE:ATKR) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in Atkore Inc. (NYSE:ATKR) by 396.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 102,180 shares of the company’s stock after acquiring an additional 81,605 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Atkore were worth $8,659,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ATKR. Capital World Investors acquired a new position in shares of Atkore during the first quarter valued at approximately $14,986,000. BOKF NA purchased a new stake in shares of Atkore during the first quarter worth approximately $423,000. Price T Rowe Associates Inc. MD raised its stake in Atkore by 1.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock valued at $85,535,000 after purchasing an additional 4,852 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in Atkore by 0.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 167,637 shares of the company’s stock valued at $31,911,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Atkore during the 1st quarter worth $411,000.

Atkore Price Performance

Atkore stock opened at $89.47 on Friday. 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 has a 50-day moving average price of $87.74 and a 200 day moving average price of $113.93. Atkore Inc. has a 12-month low of $76.01 and a 12-month high of $194.98. The stock has a market cap of $3.21 billion, a P/E ratio of 6.28 and a beta of 2.13.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, December 6th. Atkore’s payout ratio is presently 8.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ATKR shares. KeyCorp reduced their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Royal Bank of Canada cut their price objective on shares of Atkore from $99.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday. Loop Capital decreased their target price on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday. Finally, B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $84.00 in a research report on Friday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Atkore currently has an average rating of “Hold” and a consensus target price of $117.00.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the sale, the insider now directly owns 27,626 shares of the company’s stock, valued at approximately $2,667,290.30. This trade represents a 1.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.56% of the stock is currently owned by insiders.

Atkore Company 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.