Daniel S. Kelly Sells 13,071 Shares of Atkore Inc. (NYSE:ATKR) Stock

Atkore Inc. (NYSE:ATKR) VP Daniel S. Kelly sold 13,071 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now directly owns 27,528 shares in the company, valued at approximately $2,635,530.72. This trade represents a 32.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Atkore Trading Down 1.9 %

NYSE:ATKR traded down $1.79 during trading hours on Wednesday, hitting $93.16. 726,879 shares of the stock were exchanged, compared to its average volume of 639,876. The company’s 50 day moving average is $88.13 and its two-hundred day moving average is $111.83. The company has a market capitalization of $3.25 billion, a P/E ratio of 7.38 and a beta of 2.13. Atkore Inc. has a twelve month low of $76.01 and a twelve month high of $194.98. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, December 6th. Atkore’s dividend payout ratio is currently 10.13%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Atkore

Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its stake in shares of Atkore by 38.7% during the 3rd quarter. Tidal Investments LLC now owns 23,744 shares of the company’s stock worth $2,012,000 after buying an additional 6,628 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Atkore during the third quarter worth approximately $867,000. Vestcor Inc increased its holdings in shares of Atkore by 130.9% during the third quarter. Vestcor Inc now owns 7,408 shares of the company’s stock worth $628,000 after purchasing an additional 4,200 shares during the period. Barclays PLC increased its stake in Atkore by 50.2% in the third quarter. Barclays PLC now owns 70,736 shares of the company’s stock valued at $5,994,000 after acquiring an additional 23,628 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in Atkore by 729.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock valued at $2,358,000 after buying an additional 24,476 shares in the last quarter.

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.