Atkore (NYSE:ATKR) Stock Rating Lowered by B. Riley

B. Riley lowered shares of Atkore (NYSE:ATKR) from a buy rating to a neutral rating in a research note published on Friday, MarketBeat.com reports. B. Riley currently has $84.00 price target on the stock, down from their previous price target of $135.00.

Other equities analysts have also recently issued reports about the company. KeyCorp reduced their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Royal Bank of Canada downgraded shares of Atkore from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. Finally, Loop Capital dropped their target price on shares of Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $117.00.

Atkore Price Performance

Shares of ATKR stock opened at $94.62 on Friday. 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 firm has a fifty day simple moving average of $87.80 and a 200-day simple moving average of $112.73. The company has a market capitalization of $3.30 billion, a PE ratio of 7.39 and a beta of 2.13. Atkore has a twelve month low of $76.01 and a twelve month high of $194.98.

Atkore Announces Dividend

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 issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, December 6th. Atkore’s dividend payout ratio (DPR) is 10.13%.

Insider Buying and Selling

In other news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the transaction, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.56% of the company’s stock.

Hedge Funds Weigh In On Atkore

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in shares of Atkore by 445.6% during the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after purchasing an additional 401 shares in the last quarter. Quarry LP grew its position in Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after buying an additional 208 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Atkore by 895.7% in the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after buying an additional 421 shares in the last quarter. Covestor Ltd lifted its position in shares of Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after acquiring an additional 390 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after acquiring an additional 805 shares in 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.