Atkore Inc. (NYSE:ATKR) Insider Sells $69,160.00 in Stock

Atkore Inc. (NYSE:ATKR) insider Mark F. Lamps sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the transaction, the insider now directly owns 32,828 shares of the company’s stock, valued at approximately $2,270,384.48. This represents a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Atkore Stock Performance

NYSE ATKR opened at $67.95 on Friday. The business’s 50-day simple moving average is $61.77 and its 200-day simple moving average is $75.30. The firm has a market capitalization of $2.36 billion, a P/E ratio of 6.58 and a beta of 2.10. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $159.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96.

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

Atkore Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, May 16th. This is a positive change from Atkore’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 1.94%. Atkore’s dividend payout ratio (DPR) is 25.38%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Atkore

Several institutional investors and hedge funds have recently modified their holdings of ATKR. Lakewood Asset Management LLC lifted its position in Atkore by 1.4% during the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock worth $756,000 after acquiring an additional 126 shares in the last quarter. Van Den Berg Management I Inc. lifted its position in shares of Atkore by 0.4% during the fourth quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company’s stock worth $3,425,000 after purchasing an additional 158 shares in the last quarter. Isthmus Partners LLC boosted its stake in shares of Atkore by 0.8% in the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company’s stock valued at $1,789,000 after purchasing an additional 162 shares during the period. Xponance Inc. grew its holdings in Atkore by 6.9% during the 4th quarter. Xponance Inc. now owns 2,569 shares of the company’s stock valued at $214,000 after purchasing an additional 166 shares in the last quarter. Finally, Willis Investment Counsel increased its stake in Atkore by 3.3% during the 4th quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock worth $446,000 after buying an additional 171 shares during the period.

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.