Isthmus Partners LLC Sells 2,218 Shares of Atkore Inc. (NYSE:ATKR)

Isthmus Partners LLC lessened its position in Atkore Inc. (NYSE:ATKR) by 9.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,279 shares of the company’s stock after selling 2,218 shares during the period. Isthmus Partners LLC’s holdings in Atkore were worth $1,803,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Hodges Capital Management Inc. purchased a new stake in shares of Atkore in the 2nd quarter worth about $4,158,000. Boston Trust Walden Corp purchased a new stake in shares of Atkore in the 2nd quarter worth about $23,306,000. Maverick Capital Ltd. lifted its position in shares of Atkore by 386.9% in the 2nd quarter. Maverick Capital Ltd. now owns 9,709 shares of the company’s stock worth $1,310,000 after purchasing an additional 7,715 shares during the period. Chase Investment Counsel Corp lifted its position in shares of Atkore by 97.0% in the 3rd quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company’s stock worth $1,101,000 after purchasing an additional 6,400 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Atkore in the 2nd quarter worth about $3,095,000.

Atkore Stock Down 1.9 %

Shares of Atkore stock opened at $93.17 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. The stock has a market capitalization of $3.25 billion, a PE ratio of 7.38 and a beta of 2.13. Atkore Inc. has a 52-week low of $76.01 and a 52-week high of $194.98. The company has a 50-day simple moving average of $88.34 and a two-hundred day simple moving average of $111.57.

Atkore Dividend Announcement

The business 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 $0.32 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.37%. Atkore’s dividend payout ratio is presently 10.13%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Loop Capital lowered their price target on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. KeyCorp lowered their price target on shares of 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 cut shares of 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. Finally, Royal Bank of Canada lowered their price target on shares of Atkore from $99.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Atkore presently has a consensus rating of “Hold” and an average target price of $117.00.

Insider Transactions at Atkore

In other news, VP Daniel S. Kelly sold 13,071 shares of Atkore stock in a transaction that occurred on 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 sale, the vice president now directly owns 27,528 shares in the company, valued at $2,635,530.72. The trade was a 32.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the sale, the insider now owns 27,626 shares of the company’s stock, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.56% of the company’s stock.

Atkore 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.