Atkore Inc. (NYSE:ATKR) Short Interest Update

Atkore Inc. (NYSE:ATKR - Get Free Report) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,890,000 shares, a growth of 8.6% from the November 30th total of 2,660,000 shares. Currently, 8.4% of the shares of the company are short sold. Based on an average daily volume of 642,300 shares, the short-interest ratio is currently 4.5 days.

Analyst Ratings Changes

ATKR has been the topic of a number of recent analyst reports. Roth Capital upgraded Atkore to a "strong-buy" rating in a research report on Monday, December 16th. Roth Mkm initiated coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a "buy" rating and a $100.00 target price on the stock. KeyCorp cut their price target on shares of Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, September 13th. Loop Capital decreased their price objective on shares of Atkore from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. Finally, B. Riley downgraded 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 report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.67.

Insider Activity at Atkore

In other news, VP Daniel S. Kelly sold 13,071 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the completion of the sale, the vice president now owns 27,528 shares in the company, valued at $2,635,530.72. The trade was 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. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the transaction, 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. In the last ninety days, insiders sold 16,924 shares of company stock worth $1,614,975. Insiders own 1.99% of the company's stock.

Hedge Funds Weigh In On Atkore

Several institutional investors and hedge funds have recently bought and sold shares of ATKR. Hodges Capital Management Inc. bought a new position in Atkore in the 2nd quarter worth approximately $4,158,000. Maverick Capital Ltd. lifted its holdings in Atkore by 386.9% during the 2nd quarter. Maverick Capital Ltd. now owns 9,709 shares of the company's stock worth $1,310,000 after purchasing an additional 7,715 shares in the last quarter. Wellington Management Group LLP bought a new position in Atkore in the 3rd quarter worth about $7,916,000. Chase Investment Counsel Corp grew its holdings in Atkore by 97.0% during the 3rd quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company's stock valued at $1,101,000 after buying an additional 6,400 shares in the last quarter. Finally, M&G PLC bought a new stake in shares of Atkore during the third quarter valued at about $9,123,000.

Atkore Stock Up 0.9 %

Shares of ATKR traded up $0.75 on Wednesday, reaching $83.45. The company's stock had a trading volume of 323,044 shares, compared to its average volume of 625,388. Atkore has a twelve month low of $76.01 and a twelve month high of $194.98. The stock has a market capitalization of $2.90 billion, a PE ratio of 6.61 and a beta of 2.10. 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 moving average of $88.74 and a 200-day moving average of $100.82.

Atkore (NYSE:ATKR - Get Free Report) last posted its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.06). Atkore had a return on equity of 32.14% and a net margin of 14.77%. The firm had revenue of $788.30 million during the quarter, compared to the consensus estimate of $749.49 million. During the same quarter in the previous year, the company earned $3.63 EPS. The business's revenue was down 9.4% compared to the same quarter last year. Equities analysts predict that Atkore will post 6.69 EPS for the current year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, December 6th. Atkore's dividend payout ratio is currently 10.13%.

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.

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