Atkore (NYSE:ATKR) Sets New 52-Week Low – Should You Sell?

Atkore Inc. (NYSE:ATKR) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $76.00 and last traded at $76.00, with a volume of 22584 shares trading hands. The stock had previously closed at $84.15.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ATKR. Loop Capital dropped their price objective on shares of Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Royal Bank of Canada cut shares of Atkore from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. B. Riley decreased their target price on shares of Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, KeyCorp decreased 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Atkore currently has a consensus rating of “Moderate Buy” and an average price target of $131.60.

Atkore Stock Down 0.3 %

The firm has a market cap of $3.01 billion, a PE ratio of 5.79 and a beta of 2.13. The business’s 50 day moving average price is $87.75 and its 200 day moving average price is $114.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03.

Atkore Dividend Announcement

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 issued a $0.32 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.28 annualized dividend and a yield of 1.53%. Atkore’s payout ratio is 8.99%.

Insider Buying and Selling at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction that occurred 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 directly owns 27,626 shares of the company’s stock, valued at $2,667,290.30. This represents a 1.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atkore

Large investors have recently modified their holdings of the company. Boston Partners grew its position in shares of Atkore by 12.0% in the 1st quarter. Boston Partners now owns 1,340,146 shares of the company’s stock valued at $254,733,000 after buying an additional 143,121 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Atkore by 26.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock valued at $104,599,000 after buying an additional 261,234 shares during the last quarter. American Century Companies Inc. grew its position in shares of Atkore by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock valued at $104,395,000 after buying an additional 144,283 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Atkore by 1.1% in the 1st 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 during the last quarter. Finally, Royce & Associates LP grew its position in shares of Atkore by 20.2% in the 3rd quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock valued at $33,562,000 after buying an additional 66,533 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.