Atkore Inc. (NYSE:ATKR) Short Interest Update

Atkore Inc. (NYSE:ATKR) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,160,000 shares, an increase of 16.8% from the February 13th total of 1,850,000 shares. Approximately 6.4% of the shares of the company are short sold. Based on an average daily trading volume, of 659,800 shares, the short-interest ratio is presently 3.3 days.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the sale, the insider now directly owns 33,760 shares in the company, valued at approximately $2,194,400. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atkore

Hedge funds have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Atkore during the 4th quarter worth $10,207,000. Jefferies Financial Group Inc. bought a new stake in shares of Atkore during the 4th quarter worth $581,000. Mackenzie Financial Corp boosted its stake in shares of Atkore by 143.1% during the 4th quarter. Mackenzie Financial Corp now owns 5,938 shares of the company’s stock worth $496,000 after acquiring an additional 3,495 shares in the last quarter. Vise Technologies Inc. bought a new stake in shares of Atkore during the 4th quarter worth $207,000. Finally, CSS LLC IL boosted its stake in shares of Atkore by 14.6% during the 4th quarter. CSS LLC IL now owns 4,129 shares of the company’s stock worth $345,000 after acquiring an additional 526 shares in the last quarter.

Atkore Stock Down 3.8 %

Shares of ATKR stock opened at $64.03 on Friday. Atkore has a 1 year low of $55.91 and a 1 year high of $194.98. The stock has a market cap of $2.22 billion, a PE ratio of 6.20 and a beta of 2.22. The business’s fifty day moving average is $71.74 and its 200-day moving average is $81.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. During the same period last year, the firm earned $4.12 EPS. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. Equities analysts expect that Atkore will post 5.79 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Tuesday, February 18th. Atkore’s dividend payout ratio (DPR) is presently 12.39%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ATKR shares. KeyCorp dropped their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Loop Capital cut Atkore from a “buy” rating to a “hold” rating and dropped their price target for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Roth Mkm started coverage on Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price target (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.17.

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.