Atkore Inc. (NYSE:ATKR) Insider Sells $32,500.00 in Stock

Atkore Inc. (NYSE:ATKR) insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the sale, the insider now owns 33,760 shares of the company’s stock, valued at $2,194,400. The trade was a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Atkore Stock Performance

Atkore stock opened at $69.41 on Thursday. Atkore Inc. has a fifty-two week low of $62.62 and a fifty-two week high of $194.98. The stock’s 50 day simple moving average is $82.51 and its two-hundred day simple moving average is $88.97. 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 stock has a market cap of $2.41 billion, a price-to-earnings ratio of 6.72 and a beta of 2.12.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. The company had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.12 earnings per share. As a group, analysts expect that Atkore Inc. will post 6.55 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 1.84%. Atkore’s dividend payout ratio (DPR) is currently 12.39%.

Analyst Ratings Changes

ATKR has been the subject of a number of recent analyst reports. KeyCorp lowered their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Roth Mkm started coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Roth Capital raised Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.17.

Institutional Investors Weigh In On Atkore

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in shares of Atkore by 549.9% in the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock worth $50,658,000 after purchasing an additional 513,631 shares in the last quarter. Norges Bank purchased a new position in Atkore during the fourth quarter valued at $42,339,000. Victory Capital Management Inc. boosted its holdings in Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock worth $39,291,000 after acquiring an additional 459,200 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Atkore by 26.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock worth $104,599,000 after acquiring an additional 261,234 shares during the last quarter. Finally, E. Ohman J or Asset Management AB increased its holdings in shares of Atkore by 55.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock valued at $26,569,000 after acquiring an additional 113,263 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.