Atkore (NYSE:ATKR) Issues Earnings Results

Atkore (NYSE:ATKR) issued its quarterly earnings results on Monday. The company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.22 by $0.86, Briefing.com reports. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The company had revenue of $792.90 million during the quarter, compared to analysts’ expectations of $808.22 million. During the same quarter last year, the company posted $4.31 EPS. The firm’s revenue was down 11.5% compared to the same quarter last year.

Atkore Stock Performance

NYSE ATKR traded up $3.81 on Wednesday, hitting $158.15. 452,008 shares of the company’s stock were exchanged, compared to its average volume of 477,220. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 9.43 and a beta of 2.19. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99. The firm’s 50-day moving average price is $176.72 and its two-hundred day moving average price is $155.41. Atkore has a fifty-two week low of $116.14 and a fifty-two week high of $194.98.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Monday, May 20th. Atkore’s payout ratio is 7.67%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ATKR shares. Citigroup lifted their target price on Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada reissued an “outperform” rating and set a $187.00 price objective on shares of Atkore in a research report on Friday, March 22nd. Finally, StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th.

Insider Buying and Selling

In related news, CEO William E. Jr. Waltz sold 43,072 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the sale, the chief executive officer now owns 83,716 shares in the company, valued at approximately $13,434,743.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Atkore news, CEO William E. Jr. Waltz sold 50,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $173.85, for a total transaction of $8,692,500.00. Following the transaction, the chief executive officer now owns 83,716 shares of the company’s stock, valued at approximately $14,554,026.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William E. Jr. Waltz sold 43,072 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the transaction, the chief executive officer now directly owns 83,716 shares in the company, valued at approximately $13,434,743.68. The disclosure for this sale can be found here. Insiders have sold a total of 148,464 shares of company stock worth $25,124,751 in the last quarter. Company insiders own 2.56% of the company’s stock.

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.