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

Isthmus Partners LLC cut its holdings in shares of Atkore Inc. (NYSE:ATKR) by 9.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,279 shares of the company’s stock after selling 2,218 shares during the period. Isthmus Partners LLC owned approximately 0.06% of Atkore worth $1,803,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Arizona State Retirement System grew its position in Atkore by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock worth $1,389,000 after purchasing an additional 85 shares in the last quarter. SummerHaven Investment Management LLC grew its position in Atkore by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company’s stock worth $667,000 after purchasing an additional 99 shares in the last quarter. Meixler Investment Management Ltd. grew its position in Atkore by 6.5% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock worth $263,000 after purchasing an additional 119 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Atkore by 3.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock worth $555,000 after purchasing an additional 129 shares in the last quarter. Finally, Riverwater Partners LLC grew its position in Atkore by 1.1% in the 2nd quarter. Riverwater Partners LLC now owns 14,310 shares of the company’s stock worth $1,931,000 after purchasing an additional 159 shares in the last quarter.

Atkore Stock Performance

Shares of ATKR stock opened at $93.17 on Friday. Atkore Inc. has a 12 month low of $76.01 and a 12 month high of $194.98. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $3.25 billion, a P/E ratio of 7.38 and a beta of 2.13. The firm’s 50 day moving average is $88.34 and its 200 day moving average is $111.57.

Atkore Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ATKR. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. Royal Bank of Canada reduced their target price 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. Loop Capital reduced their target price 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. Finally, KeyCorp reduced their target price 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. 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 stock has an average rating of “Hold” and a consensus price target of $117.00.

Insiders Place Their Bets

In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of the 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 sale, the vice president now directly owns 27,528 shares in the company, valued at $2,635,530.72. This represents a 32.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $2,667,290.30. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.