Atkore Inc. (NYSE:ATKR) Insider Mark F. Lamps Sells 1,000 Shares of Stock

Atkore Inc. (NYSE:ATKR) insider Mark F. Lamps sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the transaction, the insider now directly owns 32,828 shares in the company, valued at approximately $2,270,384.48. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Atkore Trading Down 1.1 %

Shares of ATKR stock opened at $67.95 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 6.58 and a beta of 2.10. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $163.12. The company has a 50-day simple moving average of $61.77 and a two-hundred day simple moving average of $75.37.

Atkore (NYSE:ATKR) last released its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.52. The company had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. Atkore’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.08 earnings per share. Research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.94%. This is a boost from Atkore’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 16th. Atkore’s payout ratio is presently 25.38%.

Analysts Set New Price Targets

ATKR has been the topic of a number of recent research reports. KeyCorp increased their target price on Atkore from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup dropped their price objective on shares of Atkore from $78.00 to $66.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada boosted their target price on shares of Atkore from $65.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Roth Capital set a $78.00 price target on Atkore and gave the company a “buy” rating in a research note on Wednesday. Finally, Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.57.

Hedge Funds Weigh In On Atkore

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gates Capital Management Inc. increased its stake in shares of Atkore by 29.6% during the 4th quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company’s stock worth $217,584,000 after purchasing an additional 595,774 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Atkore by 10.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock worth $111,467,000 after acquiring an additional 134,517 shares during the period. First Trust Advisors LP increased its holdings in Atkore by 195.6% in the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company’s stock worth $98,009,000 after acquiring an additional 777,113 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Atkore by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,090,817 shares of the company’s stock worth $91,028,000 after purchasing an additional 6,234 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Atkore by 24.2% in the fourth quarter. LSV Asset Management now owns 924,100 shares of the company’s stock worth $77,116,000 after purchasing an additional 180,160 shares in the last quarter.

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.