Atkore (NYSE:ATKR) Insider Mark Lamps Sells 300 Shares of Stock

Atkore Inc. (NYSE:ATKR) insider Mark Lamps sold 300 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.75, for a total value of $28,125.00. Following the transaction, the insider owned 35,803 shares of the company’s stock, valued at $3,356,531.25. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $93.75 on Tuesday. The business’s fifty day moving average price is $78.07 and its two-hundred day moving average price is $71.77. Atkore Inc. has a fifty-two week low of $53.49 and a fifty-two week high of $93.88. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -19.49 and a beta of 1.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.73 and a quick ratio of 2.04.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.39. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.The company had revenue of $794.80 million during the quarter, compared to analysts’ expectations of $756.23 million. During the same period last year, the business earned $2.17 earnings per share. As a group, analysts predict that Atkore Inc. will post 4.75 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Atkore’s dividend payout ratio is currently -27.44%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ATKR. BlackRock Inc. bought a new position in shares of Atkore during the 2nd quarter worth approximately $236,958,000. Coliseum Capital Management LLC acquired a new position in Atkore during the fourth quarter worth $51,189,000. Earnest Partners LLC bought a new position in Atkore in the fourth quarter valued at $49,571,000. Oslo Pensjonsforsikring AS bought a new position in Atkore in the first quarter valued at $22,209,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Atkore in the 3rd quarter valued at $21,214,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ATKR. Roth Capital cut Atkore from a “buy” rating to a “neutral” rating and raised their price target for the company from $85.00 to $92.00 in a report on Tuesday, August 4th. Citigroup boosted their target price on shares of Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 price target on shares of Atkore in a research note on Thursday, July 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a report on Wednesday, July 29th. Finally, Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Atkore currently has a consensus rating of “Hold” and a consensus price target of $143.33.

About Atkore

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.