PDT Partners LLC Has $680,000 Position in Atkore Inc. (NYSE:ATKR)

PDT Partners LLC trimmed its stake in shares of Atkore Inc. (NYSE:ATKR) by 73.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,030 shares of the company’s stock after selling 22,200 shares during the quarter. PDT Partners LLC’s holdings in Atkore were worth $680,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ATKR. Cetera Investment Advisers grew its stake in shares of Atkore by 315.6% during the first quarter. Cetera Investment Advisers now owns 13,402 shares of the company’s stock worth $2,551,000 after buying an additional 10,177 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Atkore during the 1st quarter valued at $473,000. Mather Group LLC. boosted its holdings in shares of Atkore by 895.7% during the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after acquiring an additional 421 shares in the last quarter. Park Avenue Securities LLC grew its position in Atkore by 9.3% during the 2nd quarter. Park Avenue Securities LLC now owns 7,207 shares of the company’s stock worth $972,000 after acquiring an additional 614 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its holdings in Atkore by 10.1% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 2,755 shares of the company’s stock worth $372,000 after purchasing an additional 252 shares in the last quarter.

Analyst Upgrades and Downgrades

ATKR has been the topic of a number of recent research reports. Loop Capital cut their price target on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. KeyCorp cut their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Finally, Royal Bank of Canada cut their price target on shares of Atkore from $99.00 to $93.00 and set a “sector perform” rating on the stock in a 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $117.00.

Insider Activity

In related news, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the sale, the vice president now owns 27,528 shares in the company, valued at $2,635,530.72. This represents a 32.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the sale, the insider now owns 27,626 shares of the company’s stock, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.

Atkore Price Performance

Atkore stock opened at $94.18 on Tuesday. The stock’s 50 day moving average is $88.67 and its 200 day moving average is $110.09. Atkore Inc. has a one year low of $76.01 and a one year high of $194.98. The firm has a market cap of $3.29 billion, a P/E ratio of 7.46 and a beta of 2.13. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96.

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 given 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 1.36%. Atkore’s dividend payout ratio (DPR) is currently 10.13%.

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.