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 stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the transaction, the insider now 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Atkore Stock Performance

Shares of NYSE ATKR opened at $70.98 on Wednesday. The firm has a fifty day moving average price of $82.97 and a 200-day moving average price of $89.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The stock has a market cap of $2.46 billion, a PE ratio of 6.87 and a beta of 2.12. Atkore Inc. has a 1 year low of $62.62 and a 1 year high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The firm had revenue of $661.60 million during 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 company’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.12 earnings per share. Equities analysts anticipate that Atkore Inc. will post 6.55 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.80%. Atkore’s dividend payout ratio (DPR) is presently 12.39%.

Analyst Upgrades and Downgrades

ATKR has been the topic of a number of research analyst reports. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Loop Capital downgraded shares of Atkore from a “buy” rating to a “hold” rating and lowered their price objective for the company from $115.00 to $65.00 in a research report on Monday. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price target (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, Roth Mkm started coverage on shares of Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $103.17.

Institutional Trading of Atkore

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock worth $111,467,000 after purchasing an additional 134,517 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Atkore by 10.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company’s stock valued at $44,243,000 after acquiring an additional 50,194 shares in the last quarter. Victory Capital Management Inc. grew its stake in Atkore by 3,948.4% during the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after acquiring an additional 459,200 shares in the last quarter. Royce & Associates LP grew its stake in Atkore by 4.2% during the fourth quarter. Royce & Associates LP now owns 412,752 shares of the company’s stock valued at $34,444,000 after acquiring an additional 16,698 shares in the last quarter. Finally, E. Ohman J or Asset Management AB grew its stake in Atkore by 55.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock valued at $26,569,000 after acquiring an additional 113,263 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.