Sawgrass Asset Management LLC Sells 441 Shares of Atkore Inc. (NYSE:ATKR)

Sawgrass Asset Management LLC lowered its stake in Atkore Inc. (NYSE:ATKR) by 24.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,364 shares of the company’s stock after selling 441 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Atkore were worth $218,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ATKR. Commonwealth Equity Services LLC increased its stake in shares of Atkore by 4.4% during the third quarter. Commonwealth Equity Services LLC now owns 4,907 shares of the company’s stock valued at $732,000 after buying an additional 205 shares during the period. Raymond James & Associates increased its stake in shares of Atkore by 8.1% during the third quarter. Raymond James & Associates now owns 172,932 shares of the company’s stock valued at $25,800,000 after buying an additional 12,921 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Atkore by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 198,222 shares of the company’s stock valued at $29,573,000 after buying an additional 4,032 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Atkore by 8.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 230,334 shares of the company’s stock valued at $34,364,000 after buying an additional 17,128 shares during the period. Finally, Advisor Partners II LLC purchased a new position in shares of Atkore during the third quarter valued at approximately $537,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $187.00 price target on shares of Atkore in a research note on Friday, March 22nd. Citigroup upped their price target on Atkore from $176.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, StockNews.com raised Atkore from a “hold” rating to a “buy” rating in a research note on Friday, April 5th.

Atkore Stock Down 12.5 %

Shares of NYSE ATKR traded down $22.07 during trading on Tuesday, reaching $154.33. The company had a trading volume of 2,339,672 shares, compared to its average volume of 477,648. Atkore Inc. has a 12-month low of $116.14 and a 12-month high of $194.98. The stock has a market cap of $5.67 billion, a PE ratio of 9.25 and a beta of 2.19. The business’s 50-day moving average is $176.72 and its 200 day moving average is $155.41. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st will be paid a $0.32 dividend. The ex-dividend date is Monday, May 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.83%. Atkore’s dividend payout ratio is currently 7.67%.

Insider Transactions at Atkore

In other news, VP Leangela W. Lowe sold 6,500 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $176.07, for a total value of $1,144,455.00. Following the sale, the vice president now directly owns 25,590 shares of the company’s stock, valued at $4,505,631.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Leangela W. Lowe sold 6,500 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the transaction, the vice president now directly owns 25,590 shares of the company’s stock, valued at $4,505,631.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justin A. Kershaw sold 1,099 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $171.77, for a total value of $188,775.23. Following the transaction, the director now directly owns 16,686 shares in the company, valued at $2,866,154.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,464 shares of company stock valued at $25,124,751. Insiders own 2.56% of the company’s stock.

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.