Insider Selling: Atkore (NYSE:ATKR) Insider Sells $28,125.00 in Stock

Atkore Inc. (NYSE:ATKR) insider Mark Lamps sold 300 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $93.75, for a total transaction of $28,125.00. Following the completion of the sale, the insider 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Atkore Trading Down 0.1%

Shares of ATKR opened at $93.81 on Thursday. Atkore Inc. has a twelve month low of $53.75 and a twelve month high of $93.98. The firm has a market capitalization of $3.17 billion, a P/E ratio of -19.50 and a beta of 1.68. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $78.44 and its 200 day simple moving average is $72.06.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $794.80 million during the quarter, compared to the consensus estimate of $756.23 million. During the same period in the previous year, the firm earned $2.17 earnings per share. On average, equities research analysts forecast that Atkore Inc. will post 5.15 earnings per share for the current year.

Atkore Announces Dividend

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

Institutional Investors Weigh In On Atkore

A number of institutional investors have recently added to or reduced their stakes in the company. Oslo Pensjonsforsikring AS purchased a new stake in Atkore during the first quarter valued at about $22,209,000. Irenic Capital Management LP acquired a new position in shares of Atkore in the fourth quarter worth about $884,000. Hsbc Holdings PLC purchased a new position in shares of Atkore in the first quarter worth approximately $1,092,000. LSV Asset Management increased its position in shares of Atkore by 5.8% in the fourth quarter. LSV Asset Management now owns 960,450 shares of the company’s stock worth $60,748,000 after acquiring an additional 52,850 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Atkore by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company’s stock valued at $72,341,000 after acquiring an additional 97,514 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ATKR shares. 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 report on Wednesday, May 6th. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Royal Bank Of Canada set a $76.00 price target on Atkore in a research note on Thursday, July 16th. Roth Capital lowered Atkore from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $85.00 to $92.00 in a report on Tuesday, August 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Atkore in a research note on Wednesday, July 29th. 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $143.33.

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.