Atkore (NYSE:ATKR) Reaches New 52-Week High at $191.16

Atkore Inc. (NYSE:ATKR) hit a new 52-week high on Thursday . The company traded as high as $191.16 and last traded at $190.36, with a volume of 481610 shares. The stock had previously closed at $186.06.

Analysts Set New Price Targets

ATKR has been the subject of several analyst reports. StockNews.com cut shares of Atkore from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $187.00 price target on shares of Atkore in a research report on Friday, March 22nd.

Atkore Price Performance

The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 11.41 and a beta of 2.18. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $161.30 and its 200-day simple moving average is $148.74.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Thursday, February 1st. The company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $1.04. The business had revenue of $798.50 million during the quarter, compared to analyst estimates of $777.05 million. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned $4.51 EPS. On average, research analysts forecast that Atkore Inc. will post 15.06 earnings per share for the current year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Monday, February 26th. Atkore’s dividend payout ratio is presently 7.67%.

Insider Buying and Selling at Atkore

In related news, VP Leangela W. Lowe sold 6,500 shares of Atkore stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $176.07, for a total value of $1,144,455.00. Following the completion of the sale, the vice president now owns 25,590 shares of the company’s stock, valued at approximately $4,505,631.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Daniel S. Kelly sold 8,685 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.07, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Leangela W. Lowe sold 6,500 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $176.07, for a total value of $1,144,455.00. Following the transaction, the vice president now directly owns 25,590 shares of the company’s stock, valued at approximately $4,505,631.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,464 shares of company stock valued at $25,124,751. 2.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atkore

Several institutional investors and hedge funds have recently modified their holdings of the stock. HighPoint Advisor Group LLC bought a new position in shares of Atkore during the 4th quarter valued at approximately $252,000. ICA Group Wealth Management LLC purchased a new position in shares of Atkore in the fourth quarter valued at approximately $25,000. Virtu Financial LLC purchased a new position in shares of Atkore in the fourth quarter valued at approximately $798,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Atkore by 47.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,570 shares of the company’s stock valued at $1,051,000 after purchasing an additional 2,113 shares during the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of Atkore by 122.4% in the fourth quarter. Harbour Investments Inc. now owns 1,112 shares of the company’s stock valued at $178,000 after buying an additional 612 shares in 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.