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

Atkore Inc. (NYSE:ATKR) declared a quarterly dividend on Thursday, July 30th. Shareholders of record on Tuesday, August 18th will be given a dividend of 0.33 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 18th.

Atkore has a dividend payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Atkore to earn $5.50 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 24.0%.

Atkore Price Performance

ATKR opened at $72.90 on Friday. The company has a current ratio of 2.64, a quick ratio of 2.02 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $76.82 and a two-hundred day simple moving average of $70.79. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -20.36 and a beta of 1.68. Atkore has a 12-month low of $53.49 and a 12-month high of $90.16.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.23. The company had revenue of $731.38 million during the quarter, compared to analysts’ expectations of $714.18 million. Atkore had a negative net margin of 4.19% and a positive return on equity of 9.22%. Atkore’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $2.04 EPS. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Research analysts predict that Atkore will post 4.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a research report on Wednesday. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Royal Bank Of Canada set a $76.00 price target on shares of Atkore in a report on Thursday, July 16th. Finally, Citigroup raised their price target on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $138.33.

About Atkore

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.