Atkore Inc. (NYSE:ATKR) Insider Mark F. Lamps Sells 500 Shares

Atkore Inc. (NYSE:ATKR) insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares in the company, valued at $2,194,400. This represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Atkore Stock Performance

Shares of ATKR stock opened at $69.38 on Tuesday. Atkore Inc. has a fifty-two week low of $62.62 and a fifty-two week high of $194.98. The stock’s 50-day moving average is $83.46 and its two-hundred day moving average is $89.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The firm has a market cap of $2.41 billion, a P/E ratio of 6.72 and a beta of 2.12.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The firm had revenue of $661.60 million for the quarter, compared to the consensus estimate of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm’s revenue was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.12 earnings per share. Analysts predict that Atkore Inc. will post 6.55 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore’s payout ratio is presently 12.39%.

Analyst Ratings Changes

ATKR has been the topic of several recent analyst reports. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and cut their price objective for the stock from $115.00 to $65.00 in a report on Monday. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and cut their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. KeyCorp dropped their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, Roth Capital raised shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $103.17.

Hedge Funds Weigh In On Atkore

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Atkore by 10.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock worth $111,467,000 after acquiring an additional 134,517 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Atkore by 10.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company’s stock worth $44,243,000 after purchasing an additional 50,194 shares during the period. Victory Capital Management Inc. grew its holdings in Atkore by 3,948.4% during the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after purchasing an additional 459,200 shares during the last quarter. Royce & Associates LP raised its position in shares of Atkore by 4.2% in the fourth quarter. Royce & Associates LP now owns 412,752 shares of the company’s stock valued at $34,444,000 after purchasing an additional 16,698 shares during the period. Finally, E. Ohman J or Asset Management AB lifted its stake in shares of Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after buying an additional 113,263 shares during the last quarter.

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.