Atkore Inc. (ATKR) To Go Ex-Dividend on August 18th

Atkore Inc. (NYSE:ATKR) declared a quarterly dividend on Thursday, July 30th. Investors of record on Tuesday, August 18th will be paid a dividend of 0.33 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 18th.

Atkore has a dividend payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Atkore to earn $5.57 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 23.7%.

Atkore Price Performance

NYSE:ATKR opened at $93.81 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.73 and a quick ratio of 2.04. Atkore has a one year low of $53.75 and a one year high of $94.14. The company has a fifty day moving average price of $78.87 and a 200 day moving average price of $72.37. The stock has a market cap of $3.17 billion, a P/E ratio of -19.50 and a beta of 1.68.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.39. The company had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. During the same period last year, the business posted $2.17 EPS. Analysts anticipate that Atkore will post 5.15 earnings per share for the current year.

Analyst Ratings Changes

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

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.