Atkore (NYSE:ATKR) Downgraded by B. Riley to Neutral

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

Several other research firms also recently commented on ATKR. Loop Capital reduced their price target 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. KeyCorp cut their price objective 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. Finally, Royal Bank of Canada downgraded shares of Atkore from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $117.00.

Atkore Stock Up 5.1 %

ATKR stock opened at $89.47 on Friday. The company has a fifty day moving average price of $87.74 and a 200 day moving average price of $113.93. Atkore has a 12 month low of $76.01 and a 12 month high of $194.98. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 6.28 and a beta of 2.13. 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 Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 1.43%. Atkore’s payout ratio is currently 8.99%.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the company’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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.56% of the company’s stock.

Hedge Funds Weigh In On Atkore

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC grew its stake in Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after acquiring an additional 401 shares during the last quarter. Quarry LP grew its stake in Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after acquiring an additional 208 shares during the last quarter. Mather Group LLC. grew its stake in Atkore by 895.7% in the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after acquiring an additional 421 shares during the last quarter. Covestor Ltd grew its stake in Atkore by 63.7% in 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 grew its stake in Atkore by 829.9% in the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after acquiring an additional 805 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.