Insider Selling: Atkore Inc. (NYSE:ATKR) Insider Sells $32,500.00 in Stock

Atkore Inc. (NYSE:ATKR) insider Mark F. Lamps sold 500 shares of the company’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 value of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares in the company, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Atkore Trading Down 2.5 %

Shares of ATKR stock opened at $69.41 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 6.72 and a beta of 2.12. Atkore Inc. has a 1 year low of $62.62 and a 1 year high of $194.98. The firm has a fifty day moving average price of $82.51 and a 200-day moving average price of $88.97.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. During the same quarter in the previous year, the company posted $4.12 earnings per share. Atkore’s revenue for the quarter was down 17.1% on a year-over-year basis. As a group, equities analysts predict that Atkore Inc. will post 6.55 earnings per share for the current year.

Atkore Announces Dividend

The company 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. This represents a $1.28 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore’s dividend payout ratio is currently 12.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ATKR shares. KeyCorp dropped their price objective on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Loop Capital downgraded shares of Atkore from a “buy” rating to a “hold” rating and dropped their price target for the company from $115.00 to $65.00 in a report on Monday. Roth Mkm assumed coverage on shares of Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective for the company. B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Finally, Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Atkore currently has a consensus rating of “Moderate Buy” and an average target price of $103.17.

Hedge Funds Weigh In On Atkore

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Atkore by 549.9% during the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock valued at $50,658,000 after buying an additional 513,631 shares in the last quarter. Norges Bank bought a new stake in Atkore during the fourth quarter valued at about $42,339,000. Victory Capital Management Inc. lifted its position in shares of Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after acquiring an additional 459,200 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Atkore by 26.8% in the third 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. Finally, E. Ohman J or Asset Management AB grew its position in shares of Atkore by 55.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after purchasing an additional 113,263 shares in 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.