Mark Lamps Sells 300 Shares of Atkore (NYSE:ATKR) Stock

Atkore Inc. (NYSE:ATKR) insider Mark Lamps sold 300 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $93.75, for a total value of $28,125.00. Following the completion of the transaction, the insider directly owned 35,803 shares of the company’s stock, valued at approximately $3,356,531.25. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Atkore Stock Up 0.1%

ATKR opened at $93.85 on Wednesday. The company has a quick ratio of 2.04, a current ratio of 2.73 and a debt-to-equity ratio of 0.59. The firm has a market cap of $3.17 billion, a P/E ratio of -19.51 and a beta of 1.68. Atkore Inc. has a 52 week low of $53.75 and a 52 week high of $93.96. The business’s fifty day simple moving average is $78.26 and its 200 day simple moving average is $71.92.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Monday, August 3rd. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.39. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.The firm had revenue of $794.80 million during the quarter, compared to analysts’ expectations of $756.23 million. During the same quarter last year, the business posted $2.17 EPS. As a group, equities research analysts anticipate that Atkore Inc. will post 5.15 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. Atkore’s dividend payout ratio (DPR) is -27.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Atkore in a report on Wednesday, July 29th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Citigroup increased their price objective on shares of Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 target price on shares of Atkore in a report on Thursday, July 16th. Finally, Roth Capital lowered shares of Atkore from a “buy” rating to a “neutral” rating and upped their price target for the stock from $85.00 to $92.00 in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $143.33.

Institutional Trading of Atkore

A number of institutional investors and hedge funds have recently bought and sold shares of ATKR. Global Retirement Partners LLC acquired a new stake in shares of Atkore in the second quarter worth $28,000. Kestra Investment Management LLC increased its holdings in Atkore by 710.9% in the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after purchasing an additional 391 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Atkore by 1,263.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock valued at $32,000 after purchasing an additional 480 shares during the period. Strs Ohio acquired a new position in shares of Atkore during the first quarter worth about $36,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after buying an additional 246 shares in the last quarter.

Atkore Company Profile

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.