New Age Alpha Advisors LLC Makes New $37,000 Investment in Atkore Inc. (NYSE:ATKR)

New Age Alpha Advisors LLC bought a new position in Atkore Inc. (NYSE:ATKR) during the first quarter, Holdings Channel.com reports. The institutional investor bought 625 shares of the company’s stock, valued at approximately $37,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Gates Capital Management Inc. increased its stake in Atkore by 29.6% in the 4th quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company’s stock worth $217,584,000 after acquiring an additional 595,774 shares during the last quarter. First Trust Advisors LP increased its stake in Atkore by 195.6% in the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company’s stock worth $98,009,000 after acquiring an additional 777,113 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Atkore by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,090,817 shares of the company’s stock worth $91,028,000 after acquiring an additional 6,234 shares during the last quarter. Victory Capital Management Inc. increased its stake in Atkore by 33.4% in the 1st quarter. Victory Capital Management Inc. now owns 628,300 shares of the company’s stock worth $37,692,000 after acquiring an additional 157,470 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Atkore by 549.9% in the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock worth $50,658,000 after acquiring an additional 513,631 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup reiterated a “neutral” rating and issued a $80.00 price objective (up from $70.00) on shares of Atkore in a report on Monday, June 9th. Roth Capital set a $78.00 price objective on Atkore and gave the stock a “buy” rating in a report on Wednesday, May 7th. Royal Bank Of Canada upped their price objective on Atkore from $65.00 to $70.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 7th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Atkore in a report on Wednesday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Atkore presently has a consensus rating of “Hold” and an average price target of $79.57.

Atkore Price Performance

ATKR opened at $53.93 on Tuesday. The stock has a market capitalization of $1.82 billion, a P/E ratio of 17.29 and a beta of 2.10. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $105.28. The stock has a 50-day moving average price of $70.65 and a 200-day moving average price of $66.99. The company has a current ratio of 3.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.52.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 19th. This represents a $1.32 annualized dividend and a yield of 2.4%. Atkore’s dividend payout ratio is currently 42.31%.

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.