Atkore (NYSE:ATKR) PT Lowered to $135.00 at B. Riley

Atkore (NYSE:ATKR) had its price objective trimmed by B. Riley from $183.00 to $135.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

ATKR has been the subject of several other reports. Royal Bank of Canada lowered shares of Atkore from an outperform rating to a sector perform rating and decreased their price target for the stock from $175.00 to $100.00 in a research note on Wednesday. KeyCorp started coverage on shares of Atkore in a research note on Wednesday, July 10th. They issued an overweight rating and a $175.00 price target for the company. Citigroup decreased their price target on shares of Atkore from $200.00 to $188.00 and set a neutral rating for the company in a research note on Wednesday, May 8th. Finally, StockNews.com lowered shares of Atkore from a buy rating to a hold rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $137.00.

Atkore Trading Down 0.4 %

NYSE ATKR traded down $0.36 during trading on Wednesday, hitting $94.88. The company had a trading volume of 1,050,784 shares, compared to its average volume of 591,124. The company has a current ratio of 3.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.49. Atkore has a one year low of $93.41 and a one year high of $194.98. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 5.92 and a beta of 2.15. The company’s fifty day moving average is $133.86 and its 200-day moving average is $154.22.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.52 by $0.28. Atkore had a net margin of 18.30% and a return on equity of 43.19%. The business had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. During the same period in the prior year, the business earned $5.13 EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, sell-side analysts predict that Atkore will post 14.93 earnings per share for the current year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, August 20th. Atkore’s payout ratio is presently 7.98%.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $157.67, for a total value of $78,835.00. Following the transaction, the insider now owns 28,586 shares of the company’s stock, valued at $4,507,154.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Wilbert W. James, Jr. sold 599 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $153.23, for a total value of $91,784.77. Following the transaction, the director now owns 15,695 shares of the company’s stock, valued at $2,404,944.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total transaction of $78,835.00. Following the sale, the insider now owns 28,586 shares in the company, valued at approximately $4,507,154.62. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On Atkore

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners raised its stake in Atkore by 12.0% during the 1st quarter. Boston Partners now owns 1,340,146 shares of the company’s stock worth $254,733,000 after acquiring an additional 143,121 shares during the period. River Road Asset Management LLC increased its position in Atkore by 14.1% in the fourth quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock worth $201,646,000 after purchasing an additional 155,508 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Atkore by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,067,162 shares of the company’s stock worth $170,753,000 after purchasing an additional 3,568 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Atkore by 28.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 973,116 shares of the company’s stock worth $131,303,000 after purchasing an additional 216,997 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Atkore by 22.9% during the second quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock worth $104,395,000 after buying an additional 144,283 shares during the period.

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.