Atkore Inc. (NYSE:ATKR - Get Free Report) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be paid a dividend of 0.32 per share on Friday, February 28th. This represents a $1.28 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Tuesday, February 18th.
Atkore has a payout ratio of 13.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Atkore to earn $7.78 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 16.5%.
Atkore Stock Down 19.3 %
ATKR traded down $15.35 during trading hours on Tuesday, hitting $64.37. 4,724,198 shares of the company's stock were exchanged, compared to its average volume of 659,555. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 5.10 and a beta of 2.12. Atkore has a 1-year low of $62.62 and a 1-year high of $194.98. The stock's 50-day moving average is $85.16 and its two-hundred day moving average is $91.50. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50.
Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. During the same period last year, the company earned $4.12 earnings per share. The business's revenue was down 17.1% compared to the same quarter last year. Sell-side analysts predict that Atkore will post 6.62 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Roth Mkm assumed coverage on shares of Atkore in a research note on Tuesday, December 17th. They set a "buy" rating and a $100.00 target price for the company. Roth Capital raised Atkore to a "strong-buy" rating in a report on Monday, December 16th. Loop Capital lowered their price objective on shares of Atkore from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Royal Bank of Canada reissued a "sector perform" rating and set a $102.00 target price (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, B. Riley downgraded shares of Atkore from a "buy" rating to a "neutral" rating and reduced their price target for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $115.67.
Check Out Our Latest Report on ATKR
Insider Activity
In related news, VP Daniel S. Kelly sold 13,071 shares of the firm's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the transaction, the vice president now owns 27,528 shares of the company's stock, valued at approximately $2,635,530.72. This trade represents a 32.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the sale, the insider now directly owns 27,626 shares of the company's stock, valued at $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,924 shares of company stock worth $1,614,975 in the last three months. Company insiders own 1.99% of the company's stock.
About Atkore
(
Get Free Report)
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.
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