Atkore (NYSE:ATKR) Insider Mark Lamps Sells 300 Shares

Atkore Inc. (NYSE:ATKR) insider Mark Lamps sold 300 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $93.75, for a total value of $28,125.00. Following the completion of the sale, the insider owned 35,803 shares in the company, valued at approximately $3,356,531.25. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Atkore Stock Up 0.0%

Shares of Atkore stock traded up $0.04 during trading on Monday, hitting $93.75. 1,136,093 shares of the stock were exchanged, compared to its average volume of 520,393. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -19.49 and a beta of 1.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.73 and a quick ratio of 2.04. The firm’s 50-day moving average price is $77.83 and its 200 day moving average price is $71.61. Atkore Inc. has a 12-month low of $53.49 and a 12-month high of $93.88.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Monday, August 3rd. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.53 by $0.39. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. The firm had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. During the same period last year, the business earned $2.17 EPS. As a group, analysts forecast that Atkore Inc. will post 4.75 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Atkore’s dividend payout ratio is currently -27.44%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ATKR. Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Roth Capital cut Atkore from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $85.00 to $92.00 in a report on Tuesday, August 4th. Citigroup boosted their target price on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada set a $76.00 price objective on Atkore in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $143.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Oslo Pensjonsforsikring AS acquired a new stake in shares of Atkore during the 1st quarter worth approximately $22,209,000. Irenic Capital Management LP bought a new position in shares of Atkore in the fourth quarter valued at approximately $884,000. Hsbc Holdings PLC purchased a new stake in shares of Atkore in the first quarter valued at about $1,092,000. LSV Asset Management lifted its position in shares of Atkore by 5.8% during the 4th quarter. LSV Asset Management now owns 960,450 shares of the company’s stock worth $60,748,000 after buying an additional 52,850 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Atkore by 8.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company’s stock worth $72,341,000 after purchasing an additional 97,514 shares during the last quarter.

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.