Corebridge Financial Inc. Lowers Stock Holdings in Atkore Inc. $ATKR

Corebridge Financial Inc. lowered its holdings in Atkore Inc. (NYSE:ATKR) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,993 shares of the company’s stock after selling 819 shares during the period. Corebridge Financial Inc. owned 0.05% of Atkore worth $1,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. grew its position in shares of Atkore by 97.0% in the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company’s stock valued at $32,000 after purchasing an additional 259 shares during the period. GAMMA Investing LLC grew its position in shares of Atkore by 1,514.7% in the first quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $33,000 after purchasing an additional 515 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Atkore in the first quarter valued at $37,000. Versant Capital Management Inc grew its position in shares of Atkore by 358.9% in the first quarter. Versant Capital Management Inc now owns 693 shares of the company’s stock valued at $42,000 after purchasing an additional 542 shares during the period. Finally, Signaturefd LLC grew its position in shares of Atkore by 384.0% in the first quarter. Signaturefd LLC now owns 905 shares of the company’s stock valued at $54,000 after purchasing an additional 718 shares during the period.

Atkore Price Performance

Shares of Atkore stock opened at $58.05 on Friday. The business’s fifty day moving average price is $67.14 and its 200 day moving average price is $65.18. The stock has a market capitalization of $1.95 billion, a P/E ratio of 18.61 and a beta of 2.16. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $105.28. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, August 19th. Atkore’s payout ratio is currently 42.31%.

Insider Activity at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was 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 $1,892,300.01. The trade was a 3.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. KeyCorp reiterated a “sector weight” rating on shares of Atkore in a report on Wednesday, August 6th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, Citigroup reiterated a “neutral” rating and issued a $80.00 target price (up previously from $70.00) on shares of Atkore in a report on Monday, June 9th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $79.57.

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.