Atkore (NYSE:ATKR) Reaches New 12-Month Low at $89.76

Atkore Inc. (NYSE:ATKR - Get Free Report) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $89.76 and last traded at $90.32, with a volume of 68761 shares trading hands. The stock had previously closed at $93.33.

Analysts Set New Price Targets

Several analysts have recently commented on ATKR shares. B. Riley reduced their price target on Atkore from $183.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. KeyCorp reduced their price objective on Atkore from $175.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. Citigroup reduced their price objective on Atkore from $200.00 to $188.00 and set a "neutral" rating for the company in a report on Wednesday, May 8th. StockNews.com cut Atkore from a "buy" rating to a "hold" rating in a report on Wednesday, May 8th. Finally, Royal Bank of Canada cut Atkore from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $175.00 to $100.00 in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $137.00.

Atkore Stock Performance

The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 5.50 and a beta of 2.15. The stock has a fifty day moving average price of $120.69 and a two-hundred day moving average price of $148.60. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, topping analysts' consensus estimates of $3.52 by $0.28. The company had revenue of $822.40 million during the quarter, compared to analysts' expectations of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.13 earnings per share. As a group, analysts forecast that Atkore Inc. will post 12.69 EPS for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Tuesday, August 20th. Atkore's dividend payout ratio is presently 7.98%.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the transaction, the insider now owns 28,086 shares in the company, valued at $2,681,370.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.56% of the company's stock.

Institutional Trading of Atkore

Several institutional investors and hedge funds have recently bought and sold shares of ATKR. Principal Financial Group Inc. grew its holdings in shares of Atkore by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 200,175 shares of the company's stock valued at $32,028,000 after purchasing an additional 3,036 shares during the last quarter. Capital World Investors bought a new position in shares of Atkore during the first quarter valued at approximately $14,986,000. Sei Investments Co. grew its holdings in shares of Atkore by 44.3% during the first quarter. Sei Investments Co. now owns 65,913 shares of the company's stock valued at $12,547,000 after purchasing an additional 20,244 shares during the last quarter. Boston Trust Walden Corp bought a new position in shares of Atkore during the second quarter valued at approximately $23,306,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Atkore by 1.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company's stock valued at $85,535,000 after purchasing an additional 4,852 shares during 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.