Atkore’s (ATKR) Hold (C-) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c-) rating on shares of Atkore (NYSE:ATKR) in a report published on Wednesday morning,Weiss Ratings reports.

Separately, KeyCorp restated a “sector weight” rating on shares of Atkore in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Atkore currently has a consensus rating of “Hold” and an average price target of $79.57.

Atkore Trading Down 2.9%

Shares of Atkore stock opened at $61.59 on Wednesday. The company’s fifty day simple moving average is $60.02 and its 200-day simple moving average is $64.71. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 19.74 and a beta of 2.13. The company has a current ratio of 3.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.52. Atkore has a 1 year low of $49.92 and a 1 year high of $105.28.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.1%. Atkore’s dividend payout ratio (DPR) is presently 42.31%.

Insider Activity

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction on Friday, August 15th. The stock was sold at an average price of $59.37, for a total transaction of $59,370.00. Following the completion of the transaction, the insider directly owned 31,873 shares of the company’s stock, valued at approximately $1,892,300.01. This trade represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CWM LLC raised its holdings in shares of Atkore by 952.0% in the first quarter. CWM LLC now owns 5,565 shares of the company’s stock valued at $334,000 after buying an additional 5,036 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Atkore by 1,514.7% in the first quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $33,000 after buying an additional 515 shares during the last quarter. KBC Group NV raised its holdings in shares of Atkore by 29.5% in the first quarter. KBC Group NV now owns 1,881 shares of the company’s stock valued at $113,000 after buying an additional 429 shares during the last quarter. Signal Advisors Wealth LLC bought a new position in shares of Atkore in the second quarter valued at about $671,000. Finally, AQR Capital Management LLC increased its position in Atkore by 112.7% in the first quarter. AQR Capital Management LLC now owns 106,237 shares of the company’s stock worth $6,373,000 after purchasing an additional 56,298 shares during the period.

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.