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

Atkore Inc. (NYSE:ATKR - Get Free Report) insider Mark F. Lamps sold 500 shares of the business's 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 of the company's stock, valued at approximately $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Atkore Trading Up 3.2 %

NYSE:ATKR traded up $2.21 during trading hours on Friday, hitting $72.16. 461,813 shares of the company were exchanged, compared to its average volume of 737,132. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 6.98 and a beta of 2.12. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. Atkore Inc. has a one year low of $62.62 and a one year high of $194.98. The company has a fifty day simple moving average of $81.62 and a 200 day simple moving average of $88.70.

Atkore (NYSE:ATKR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.45. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. Atkore's revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period last year, the company earned $4.12 EPS. Sell-side analysts expect that Atkore Inc. will post 6.55 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 1.77%. Atkore's payout ratio is currently 12.39%.

Institutional Trading of Atkore

A number of large investors have recently bought and sold shares of ATKR. First Trust Advisors LP grew its holdings in Atkore by 195.6% during the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock worth $98,009,000 after acquiring an additional 777,113 shares during the period. Wellington Management Group LLP grew its holdings in Atkore by 549.9% during the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock worth $50,658,000 after acquiring an additional 513,631 shares during the period. Norges Bank acquired a new stake in Atkore during the 4th quarter worth about $42,339,000. Victory Capital Management Inc. grew its holdings in Atkore by 3,948.4% during the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock worth $39,291,000 after acquiring an additional 459,200 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Atkore by 26.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company's stock worth $104,599,000 after acquiring an additional 261,234 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ATKR. KeyCorp lowered their price target on shares of Atkore from $105.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Roth Capital upgraded shares of Atkore to a "strong-buy" rating in a report on Monday, December 16th. Royal Bank of Canada reiterated a "sector perform" rating and set a $102.00 price target (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Roth Mkm began coverage on shares of Atkore in a report on Tuesday, December 17th. They set a "buy" rating and a $100.00 price target for the company. Finally, Loop Capital downgraded shares of Atkore from a "buy" rating to a "hold" rating and lowered their price target for the stock from $115.00 to $65.00 in a report on Monday. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $103.17.

Atkore Company Profile

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.