Centiva Capital LP Boosts Stock Position in Atkore Inc. (NYSE:ATKR)

Centiva Capital LP lifted its holdings in Atkore Inc. (NYSE:ATKR) by 153.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,910 shares of the company’s stock after purchasing an additional 16,298 shares during the quarter. Centiva Capital LP owned 0.08% of Atkore worth $2,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hodges Capital Management Inc. purchased a new position in shares of Atkore in the second quarter valued at $4,158,000. Boston Trust Walden Corp purchased a new position in shares of Atkore in the second quarter valued at $23,306,000. Maverick Capital Ltd. grew its holdings in shares of Atkore by 386.9% in the second quarter. Maverick Capital Ltd. now owns 9,709 shares of the company’s stock valued at $1,310,000 after purchasing an additional 7,715 shares in the last quarter. Chase Investment Counsel Corp grew its holdings in shares of Atkore by 97.0% in the third quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company’s stock valued at $1,101,000 after purchasing an additional 6,400 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in Atkore in the second quarter worth $3,095,000.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the transaction, the insider now owns 27,626 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, VP Daniel S. Kelly sold 13,071 shares of Atkore stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the transaction, the vice president now owns 27,528 shares in the company, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.

Atkore Stock Down 0.1 %

NYSE:ATKR opened at $94.18 on Tuesday. Atkore Inc. has a twelve month low of $76.01 and a twelve month high of $194.98. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 7.46 and a beta of 2.13. The stock has a fifty day simple moving average of $88.67 and a 200-day simple moving average of $110.09. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50.

Atkore Dividend Announcement

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 paid a dividend of $0.32 per share. The ex-dividend date is Friday, December 6th. This represents a $1.28 annualized dividend and a dividend yield of 1.36%. Atkore’s dividend payout ratio is currently 10.13%.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of analyst reports. Royal Bank of Canada lowered their price target on Atkore from $99.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, November 22nd. KeyCorp lowered their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Finally, Loop Capital lowered their price target on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Atkore has an average rating of “Hold” and an average target price of $117.00.

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.