Atkore Inc. (NYSE:ATKR – Get Free Report) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Tuesday, August 18th will be given a dividend of 0.33 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, August 18th.
Atkore has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Atkore to earn $5.50 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 24.0%.
Atkore Stock Down 0.2%
Shares of ATKR opened at $71.29 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.64 and a quick ratio of 2.02. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -19.91 and a beta of 1.68. Atkore has a 1 year low of $53.49 and a 1 year high of $90.16. The business’s 50 day simple moving average is $77.05 and its 200-day simple moving average is $70.77.
Insider Activity
In other news, Director Justin A. Kershaw sold 2,799 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $73.67, for a total value of $206,202.33. Following the completion of the sale, the director owned 18,610 shares of the company’s stock, valued at approximately $1,370,998.70. This represents a 13.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $73.61, for a total transaction of $242,839.39. Following the transaction, the director owned 17,063 shares in the company, valued at approximately $1,256,007.43. This represents a 16.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.10% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Atkore
A number of institutional investors have recently added to or reduced their stakes in ATKR. Kestra Investment Management LLC lifted its position in shares of Atkore by 710.9% during the second quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after buying an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Atkore by 1,263.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock worth $32,000 after acquiring an additional 480 shares in the last quarter. Strs Ohio purchased a new stake in Atkore during the first quarter valued at approximately $36,000. Jones Financial Companies Lllp lifted its position in Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after acquiring an additional 246 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Atkore in the fourth quarter valued at approximately $77,000.
About Atkore
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.
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