Mark F. Lamps Sells 1,000 Shares of Atkore Inc. (NYSE:ATKR) Stock

Atkore Inc. (NYSE:ATKR) insider Mark F. Lamps sold 1,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the transaction, the insider now owns 32,828 shares of the company’s stock, valued at approximately $2,270,384.48. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Atkore Trading Down 1.1 %

NYSE:ATKR opened at $67.95 on Friday. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $159.30. The firm has a market cap of $2.36 billion, a PE ratio of 6.58 and a beta of 2.10. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average price of $61.77 and a 200 day moving average price of $75.30.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.52. The business had revenue of $701.73 million during the quarter, compared to the consensus estimate of $690.83 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.08 earnings per share. Sell-side analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be given a dividend of $0.33 per share. This is a boost from Atkore’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, May 16th. Atkore’s payout ratio is 25.38%.

Hedge Funds Weigh In On Atkore

Large investors have recently bought and sold shares of the business. Barclays PLC boosted its holdings in shares of Atkore by 50.2% in the third quarter. Barclays PLC now owns 70,736 shares of the company’s stock valued at $5,994,000 after acquiring an additional 23,628 shares in the last quarter. Nordea Investment Management AB raised its position in Atkore by 4.7% during the fourth quarter. Nordea Investment Management AB now owns 107,399 shares of the company’s stock worth $8,965,000 after acquiring an additional 4,869 shares during the last quarter. Matrix Trust Co lifted its holdings in shares of Atkore by 657.7% in the fourth quarter. Matrix Trust Co now owns 2,129 shares of the company’s stock valued at $178,000 after purchasing an additional 1,848 shares in the last quarter. Lakewood Asset Management LLC grew its position in shares of Atkore by 1.4% in the fourth quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock valued at $756,000 after purchasing an additional 126 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Atkore by 2,642.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 29,947 shares of the company’s stock worth $2,499,000 after purchasing an additional 28,855 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ATKR shares. Citigroup lowered their target price on shares of Atkore from $78.00 to $66.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Royal Bank of Canada lifted their target price on shares of Atkore from $65.00 to $70.00 and gave the company a “sector perform” rating in a report on Wednesday. KeyCorp boosted their target price on Atkore from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and lowered their price target for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Finally, Roth Capital set a $78.00 price objective on Atkore and gave the company a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.57.

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.