Insider Selling: Atkore Inc. (NYSE:ATKR) VP Sells 13,071 Shares of Stock

Atkore Inc. (NYSE:ATKR) 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 transaction, the vice president now owns 27,528 shares in the company, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Atkore Trading Down 1.9 %

Atkore stock traded down $1.79 during trading on Wednesday, hitting $93.16. The company’s stock had a trading volume of 726,879 shares, compared to its average volume of 639,876. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 7.38 and a beta of 2.13. The stock’s fifty day moving average is $88.13 and its 200 day moving average is $111.83. Atkore Inc. has a 1-year low of $76.01 and a 1-year high of $194.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98.

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Friday, December 6th. Atkore’s dividend payout ratio (DPR) is presently 10.13%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ATKR shares. Royal Bank of Canada decreased their price target on Atkore from $99.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Friday, November 22nd. KeyCorp decreased their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and decreased their price target for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Finally, Loop Capital reduced their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $117.00.

Institutional Investors Weigh In On Atkore

Several institutional investors and hedge funds have recently modified their holdings of ATKR. BOKF NA purchased a new stake in shares of Atkore in the first quarter worth about $423,000. Price T Rowe Associates Inc. MD raised its stake in Atkore by 1.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock valued at $85,535,000 after buying an additional 4,852 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Atkore during the 1st quarter worth approximately $411,000. Dynasty Wealth Management LLC bought a new stake in shares of Atkore in the 1st quarter worth approximately $261,000. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Atkore by 9.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 19,386 shares of the company’s stock worth $3,690,000 after purchasing an additional 1,723 shares during the last quarter.

About Atkore

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.