Atkore Inc. Announces Quarterly Dividend of $0.33 (NYSE:ATKR)

Atkore Inc. (NYSE:ATKR) declared a quarterly dividend on Wednesday, January 28th. Stockholders of record on Tuesday, February 17th will be given a dividend of 0.33 per share on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, February 17th.

Atkore has a payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Atkore to earn $5.36 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 24.6%.

Atkore Stock Performance

Shares of ATKR stock traded up $1.15 on Thursday, reaching $69.51. The stock had a trading volume of 109,186 shares, compared to its average volume of 364,390. Atkore has a 12 month low of $49.92 and a 12 month high of $83.86. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -133.87 and a beta of 1.58. The firm’s 50-day moving average is $66.34 and its two-hundred day moving average is $65.21. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.54.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.61). The business had revenue of $752.01 million for the quarter, compared to analyst estimates of $733.61 million. Atkore had a positive return on equity of 12.98% and a negative net margin of 0.53%.Atkore’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the firm earned $2.43 EPS. On average, research analysts expect that Atkore will post 5.79 EPS for the current fiscal year.

Atkore Company Profile

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.