Atkore (NYSE:ATKR – Get Free Report) posted its quarterly earnings results on Monday. The company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $792.90 million during the quarter, compared to the consensus estimate of $808.22 million. During the same period in the previous year, the firm posted $4.31 earnings per share. Atkore’s revenue for the quarter was down 11.5% compared to the same quarter last year.
Atkore Stock Up 1.7 %
ATKR stock traded up $2.68 during mid-day trading on Wednesday, hitting $157.02. 394,800 shares of the company were exchanged, compared to its average volume of 476,375. The firm has a market cap of $5.77 billion, a P/E ratio of 9.43 and a beta of 2.19. Atkore has a 1-year low of $116.14 and a 1-year high of $194.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.99 and a current ratio of 2.96. The firm’s 50 day simple moving average is $176.72 and its 200 day simple moving average is $155.41.
Atkore Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, May 21st will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.28 annualized dividend and a dividend yield of 0.82%. Atkore’s dividend payout ratio is presently 7.67%.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on ATKR
Insider Transactions at Atkore
In related news, Director Justin A. Kershaw sold 1,099 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $171.77, for a total value of $188,775.23. Following the completion of the transaction, the director now directly owns 16,686 shares of the company’s stock, valued at approximately $2,866,154.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Justin A. Kershaw sold 1,099 shares of Atkore stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $171.77, for a total value of $188,775.23. Following the sale, the director now directly owns 16,686 shares in the company, valued at $2,866,154.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel S. Kelly sold 8,685 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.07, for a total value of $1,503,112.95. Following the completion of the transaction, the vice president now owns 34,907 shares of the company’s stock, valued at $6,041,354.49. The disclosure for this sale can be found here. Insiders sold 148,464 shares of company stock valued at $25,124,751 over the last quarter. Corporate insiders own 2.56% of the company’s stock.
About Atkore
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.
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