Mark F. Lamps Sells 500 Shares of Atkore Inc. (NYSE:ATKR) Stock

Atkore Inc. (NYSE:ATKR) insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the sale, the insider now directly owns 33,760 shares in the company, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Atkore Price Performance

Shares of ATKR opened at $70.98 on Wednesday. The stock has a market cap of $2.46 billion, a PE ratio of 6.87 and a beta of 2.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. Atkore Inc. has a fifty-two week low of $62.62 and a fifty-two week high of $194.98. The firm’s 50-day simple moving average is $82.97 and its two-hundred day simple moving average is $89.45.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The business had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business’s revenue was down 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.12 earnings per share. Analysts anticipate that Atkore Inc. will post 6.55 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 1.80%. Atkore’s dividend payout ratio is presently 12.39%.

Analysts Set New Price Targets

ATKR has been the topic of several research analyst reports. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. KeyCorp reduced their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and reduced their price target for the company from $115.00 to $65.00 in a research report on Monday. Finally, Roth Mkm initiated coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in shares of Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after buying an additional 186 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after buying an additional 401 shares in the last quarter. Quarry LP lifted its stake in shares of Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after buying an additional 208 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after buying an additional 195 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after buying an additional 390 shares in the last quarter.

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.