Atkore Inc. (NYSE:ATKR) Short Interest Update

Atkore Inc. (NYSE:ATKR) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 4,310,000 shares, a growth of 8.8% from the September 15th total of 3,960,000 shares. Approximately 12.2% of the shares of the stock are short sold. Based on an average trading volume of 837,600 shares, the days-to-cover ratio is currently 5.1 days.

Insider Activity at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the sale, the insider now owns 28,086 shares of the company’s stock, 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 link. Company insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On Atkore

A number of institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new position in shares of Atkore in the second quarter worth $57,000. Mather Group LLC. grew its stake in Atkore by 895.7% in the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after purchasing an additional 421 shares in the last quarter. Headlands Technologies LLC increased its position in 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. Kapitalo Investimentos Ltda raised its stake in shares of Atkore by 2,658.8% during the 4th quarter. Kapitalo Investimentos Ltda now owns 938 shares of the company’s stock worth $150,000 after purchasing an additional 904 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Atkore during the 1st quarter valued at about $239,000.

Analyst Ratings Changes

A number of brokerages recently weighed in on ATKR. B. Riley reduced their target price on shares of Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Loop Capital reduced their price objective on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. Finally, KeyCorp decreased their price target on 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.60.

Atkore Stock Down 0.7 %

Shares of ATKR traded down $0.59 during mid-day trading on Thursday, reaching $88.40. The company’s stock had a trading volume of 140,622 shares, compared to its average volume of 616,188. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 5.55 and a beta of 2.14. The business has a fifty day moving average of $89.13 and a 200 day moving average of $129.56. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49. Atkore has a 1 year low of $80.11 and a 1 year high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. During the same period in the prior year, the business earned $5.13 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, analysts forecast that Atkore will post 12.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 annualized dividend and a yield of 1.45%. Atkore’s dividend payout ratio 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.