Key Points
- Atkore insider Mark Lamps sold 300 shares at an average price of $93.75, generating $28,125 and reducing his direct position by 0.83% to 35,803 shares.
- Atkore exceeded quarterly expectations, reporting $1.92 in EPS versus the $1.53 consensus and revenue of $794.8 million versus $756.23 million expected.
- The company declared a quarterly dividend of $0.33 per share, equivalent to a $1.32 annualized payout and a 1.4% yield, while analysts’ average rating remained “Hold.”
Atkore Inc. (NYSE:ATKR - Get Free Report) insider Mark Lamps sold 300 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $93.75, for a total value of $28,125.00. Following the completion of the sale, the insider directly owned 35,803 shares of the company's stock, valued at approximately $3,356,531.25. The trade was a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Atkore Price Performance
NYSE:ATKR opened at $93.75 on Tuesday. The stock has a market capitalization of $3.17 billion, a PE ratio of -19.49 and a beta of 1.68. Atkore Inc. has a 1-year low of $53.49 and a 1-year high of $93.88. The firm has a fifty day simple moving average of $78.07 and a 200 day simple moving average of $71.77. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59.
Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.39. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. The firm had revenue of $794.80 million during the quarter, compared to analysts' expectations of $756.23 million. During the same quarter last year, the company posted $2.17 earnings per share. On average, research analysts expect that Atkore Inc. will post 4.75 EPS for the current fiscal year.
Atkore Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, August 18th. Atkore's dividend payout ratio (DPR) is -27.44%.
Institutional Investors Weigh In On Atkore
Several institutional investors have recently made changes to their positions in ATKR. Jones Financial Companies Lllp lifted its position in shares of Atkore by 61.8% during the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock valued at $39,000 after acquiring an additional 246 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Atkore by 15.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company's stock worth $7,009,000 after acquiring an additional 16,028 shares during the period. Intech Investment Management LLC boosted its position in shares of Atkore by 59.7% during the 1st quarter. Intech Investment Management LLC now owns 29,363 shares of the company's stock worth $1,761,000 after acquiring an additional 10,972 shares in the last quarter. Strs Ohio acquired a new stake in shares of Atkore in the 1st quarter valued at $36,000. Finally, Norges Bank bought a new position in shares of Atkore in the 2nd quarter valued at $467,000.
Analyst Ratings Changes
Several research firms have issued reports on ATKR. Weiss Ratings restated a "sell (d)" rating on shares of Atkore in a research note on Wednesday, July 29th. Citigroup boosted their target price on Atkore from $74.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Roth Capital downgraded 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. Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $143.33.
Read Our Latest Research Report on Atkore
About Atkore
(
Get Free Report)
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.
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