Atkore Inc. (ATKR) to Issue Quarterly Dividend of $0.33 on February 27th

Atkore Inc. (NYSE:ATKR) announced a quarterly dividend on Wednesday, January 28th. Investors of record on Tuesday, February 17th will be given a dividend of 0.33 per share on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, February 17th.

Atkore has a payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Atkore to earn $5.36 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 24.6%.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $70.13 on Friday. Atkore has a 1 year low of $49.92 and a 1 year high of $83.86. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -134.87 and a beta of 1.58. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.05 and a quick ratio of 2.13. The company’s 50 day simple moving average is $66.59 and its 200 day simple moving average is $65.24.

Atkore (NYSE:ATKR) last released its earnings results on Wednesday, November 19th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.61). Atkore had a positive return on equity of 12.98% and a negative net margin of 0.53%.The business had revenue of $752.01 million for the quarter, compared to the consensus estimate of $733.61 million. During the same quarter in the previous year, the company earned $2.43 earnings per share. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, research analysts predict that Atkore will post 5.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $64.00 target price on shares of Atkore in a research report on Thursday, January 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a research report on Monday, December 29th. KeyCorp restated a “sector weight” rating on shares of Atkore in a research report on Friday, November 14th. Roth Mkm boosted their target price on shares of Atkore from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Finally, Citigroup dropped their price target on Atkore from $66.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Atkore presently has a consensus rating of “Hold” and a consensus target price of $68.80.

Atkore Company Profile

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.