Insider Selling: Atkore (NYSE:ATKR) Insider Sells $64,750.00 in Stock

Atkore Inc. (NYSE:ATKR) insider Mark Lamps sold 1,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $64.75, for a total value of $64,750.00. Following the completion of the sale, the insider owned 29,923 shares in the company, valued at approximately $1,937,514.25. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Atkore Stock Up 2.4%

ATKR stock opened at $66.69 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.09 and a quick ratio of 2.08. The stock has a market capitalization of $2.24 billion, a P/E ratio of 21.37 and a beta of 2.12. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $97.32. The business has a 50-day moving average of $64.62 and a 200-day moving average of $66.17.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Friday, December 5th will be issued a $0.33 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.0%. Atkore’s dividend payout ratio (DPR) is 42.31%.

Hedge Funds Weigh In On Atkore

A number of institutional investors have recently added to or reduced their stakes in ATKR. Caitong International Asset Management Co. Ltd raised its position in Atkore by 1,263.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock worth $32,000 after acquiring an additional 480 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Atkore in the 3rd quarter valued at about $21,214,000. Morningstar Investment Management LLC acquired a new position in shares of Atkore during the 3rd quarter worth about $1,165,000. CacheTech Inc. raised its holdings in shares of Atkore by 7.7% in the 3rd quarter. CacheTech Inc. now owns 44,370 shares of the company’s stock valued at $2,784,000 after purchasing an additional 3,190 shares during the period. Finally, Voleon Capital Management LP acquired a new stake in Atkore in the 3rd quarter valued at about $1,189,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on ATKR. KeyCorp reissued a “sector weight” rating on shares of Atkore in a research report on Friday, November 14th. Weiss Ratings cut shares of Atkore from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $79.57.

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.