Charles Schwab Investment Management Inc. Sells 82,478 Shares of Atkore Inc. (NYSE:ATKR)

Charles Schwab Investment Management Inc. trimmed its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 14.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 479,976 shares of the company's stock after selling 82,478 shares during the period. Charles Schwab Investment Management Inc. owned about 1.34% of Atkore worth $40,673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in Atkore by 26.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company's stock worth $104,599,000 after purchasing an additional 261,234 shares during the period. Marshall Wace LLP raised its holdings in Atkore by 1,047.5% in the 2nd quarter. Marshall Wace LLP now owns 224,267 shares of the company's stock worth $30,260,000 after acquiring an additional 204,723 shares during the period. Boston Trust Walden Corp acquired a new position in Atkore during the 2nd quarter worth $23,306,000. American Century Companies Inc. boosted its holdings in Atkore by 22.9% during the second quarter. American Century Companies Inc. now owns 773,697 shares of the company's stock valued at $104,395,000 after acquiring an additional 144,283 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Atkore in the second quarter worth about $17,857,000.

Insiders Place Their Bets

In related news, VP Daniel S. Kelly sold 13,071 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction 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 completion of the transaction, the insider now directly owns 27,626 shares in the company, valued at approximately $2,667,290.30. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,924 shares of company stock worth $1,614,975 over the last quarter. Company insiders own 2.56% of the company's stock.

Atkore Stock Performance

ATKR stock traded down $0.30 during midday trading on Tuesday, hitting $93.88. The stock had a trading volume of 339,516 shares, compared to its average volume of 911,186. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 7.43 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 stock has a 50-day simple moving average of $88.67 and a 200 day simple moving average of $110.09. Atkore Inc. has a 52 week low of $76.01 and a 52 week high of $194.98.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, December 6th. Atkore's dividend payout ratio (DPR) is presently 10.13%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ATKR. KeyCorp decreased 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 lowered their price objective on shares of Atkore from $99.00 to $93.00 and set a "sector perform" rating on the stock in a research note on Friday, November 22nd. B. Riley cut shares of Atkore from a "buy" rating to a "neutral" rating and cut their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Finally, Loop Capital decreased their price target on shares of Atkore from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Atkore currently has a consensus rating of "Hold" and a consensus price target of $117.00.

Atkore Company 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.