Atkore Inc. (NYSE:ATKR - Get Free Report) insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $157.67, for a total transaction of $78,835.00. Following the completion of the sale, the insider now directly owns 28,586 shares of the company's stock, valued at $4,507,154.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Atkore Price Performance
ATKR stock opened at $155.51 on Wednesday. The company has a market capitalization of $5.67 billion, a P/E ratio of 9.70 and a beta of 2.19. Atkore Inc. has a 52-week low of $116.14 and a 52-week high of $194.98. The business has a 50-day simple moving average of $175.65 and a two-hundred day simple moving average of $156.59. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.98 and a current ratio of 3.09.
Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings results on Monday, May 6th. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.86. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The business had revenue of $792.90 million during the quarter, compared to the consensus estimate of $808.22 million. During the same quarter in the prior year, the company posted $4.31 earnings per share. Atkore's revenue was down 11.5% compared to the same quarter last year. Research analysts expect that Atkore Inc. will post 15.06 EPS for the current fiscal year.
Atkore Announces Dividend
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The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, May 21st will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Monday, May 20th. Atkore's payout ratio is currently 7.98%.
Analysts Set New Price Targets
A number of brokerages recently commented on ATKR. Citigroup decreased their target price on Atkore from $200.00 to $188.00 and set a "neutral" rating for the company in a research report on Wednesday, May 8th. Royal Bank of Canada restated an "outperform" rating and set a $187.00 price objective on shares of Atkore in a report on Friday, March 22nd. Finally, StockNews.com downgraded shares of Atkore from a "buy" rating to a "hold" rating in a research report on Wednesday, May 8th.
Check Out Our Latest Stock Analysis on Atkore
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teza Capital Management LLC increased its stake in Atkore by 9.2% in the 3rd quarter. Teza Capital Management LLC now owns 1,446 shares of the company's stock valued at $216,000 after buying an additional 122 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Atkore by 2.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 629,420 shares of the company's stock valued at $100,707,000 after acquiring an additional 12,189 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Atkore by 3.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 564,384 shares of the company's stock worth $90,301,000 after acquiring an additional 19,876 shares during the period. New York Life Investment Management LLC purchased a new position in Atkore in the third quarter worth $594,000. Finally, Spire Wealth Management grew its stake in Atkore by 15.5% in the 4th quarter. Spire Wealth Management now owns 33,162 shares of the company's stock valued at $5,075,000 after purchasing an additional 4,461 shares during the period.
About Atkore
(
Get Free Report)
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.
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