Atkore Inc. (NYSE:ATKR) Sees Large Decrease in Short Interest

Atkore Inc. (NYSE:ATKR - Get Free Report) saw a significant decrease in short interest in October. As of October 15th, there was short interest totalling 3,650,000 shares, a decrease of 15.3% from the September 30th total of 4,310,000 shares. Based on an average daily trading volume, of 835,400 shares, the short-interest ratio is currently 4.4 days. Currently, 10.3% of the shares of the stock are sold short.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the sale, the insider now owns 28,086 shares in the company, valued at approximately $2,681,370.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atkore

Several hedge funds and other institutional investors have recently modified their holdings of ATKR. Quarry LP bought a new position in shares of Atkore during the 2nd quarter worth approximately $57,000. Mather Group LLC. lifted its holdings in shares of Atkore by 895.7% during the second 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 period. Signaturefd LLC boosted its stake in shares of Atkore by 445.6% in 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. Headlands Technologies LLC grew its holdings in shares of Atkore by 829.9% in the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company's stock worth $122,000 after purchasing an additional 805 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Atkore during the 1st quarter valued at about $239,000.

Analysts Set New Price Targets

ATKR has been the subject of a number of research analyst reports. Loop Capital reduced their target price on Atkore from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, September 20th. KeyCorp reduced their price objective on Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday, September 13th. B. Riley lowered their target price on Atkore from $183.00 to $135.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada lowered shares of Atkore from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $131.60.

Atkore Stock Down 1.8 %

NYSE:ATKR traded down $1.55 during trading hours on Tuesday, reaching $86.66. The company's stock had a trading volume of 365,662 shares, compared to its average volume of 612,039. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 5.40 and a beta of 2.14. Atkore has a one year low of $80.11 and a one year high of $194.98. The business's 50-day moving average is $87.91 and its 200-day moving average is $123.86.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, beating analysts' consensus estimates of $3.52 by $0.28. The business had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.13 EPS. Equities research analysts predict that Atkore will post 12.69 EPS for the current year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.32 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.48%. Atkore's dividend payout ratio (DPR) is presently 7.98%.

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.