12 52-Week Low Dividend Stocks To Consider

4. Atkore Inc. (NYSE:ATKR)

Number of Hedge Fund Holders: 37

1-Year Share Price Decline as of  September 4: 43.2%

52 Week Range: $85.59 – $194.98

Atkore Inc. (NYSE:ATKR) is an American company that specializes in manufacturing and distributing a wide range of products used in the construction and maintenance of electrical, mechanical, and safety systems. In 2024 so far, the stock has declined by over 47% as the company is facing pressures from broader economic conditions. Analysts predict that the company’s sales will face difficulties this year because the prices of commodities like steel and PVC are expected to decrease due to market corrections. In fiscal Q3 2024, the company reported revenue of $822.3 million, down 10.5% from the same period last year.

For Atkore Inc. (NYSE:ATKR), the third quarter presented more difficulties than initially expected, primarily due to a modest rise in demand from the summer construction season and a generally weak pricing environment across the majority of the Electrical business. These trends are anticipated to persist into the fourth quarter and the following year, prompting an update to the company’s expectations and outlooks.

Despite these hurdles, Atkore Inc. (NYSE:ATKR) remains confident in its personnel, strategy, and processes—core elements of its business model that help maintain resilience and a forward-focused approach. Moreover, during the third quarter, the company repurchased $125 million in shares as part of its capital deployment strategy while continuing to invest in organic growth initiatives. In the first nine months of the year, the company generated $350 million in operating cash flow. It started paying dividends this year and currently offers a quarterly dividend of $0.32 per share. The stock’s dividend yield on September 4 came in at 1.49%.

Atkore Inc. (NYSE:ATKR) was included in 37 hedge fund portfolios at the end of Q2 2024, compared with 45 in the previous quarter, according to Insider Monkey’s database. The stakes held by these funds have a total value of over $402 million.