Atkore Inc. (NYSE:ATKR) Director Jeri L. Isbell Sells 3,353 Shares of Stock

Atkore Inc. (NYSE:ATKR) Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the transaction, the director now directly owns 25,585 shares in the company, valued at $2,405,757.55. This trade represents a 11.59 % 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 0.3 %

Atkore stock opened at $93.88 on Wednesday. The business has a 50-day simple moving average of $88.84 and a two-hundred day simple moving average of $109.68. Atkore Inc. has a 52-week low of $76.01 and a 52-week high of $194.98. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50. The company has a market cap of $3.28 billion, a P/E ratio of 7.43 and a beta of 2.10.

Atkore (NYSE:ATKR) last announced its earnings results on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). Atkore had a net margin of 14.77% and a return on equity of 32.14%. The business had revenue of $788.30 million for the quarter, compared to analysts’ expectations of $749.49 million. During the same period in the prior year, the company posted $3.63 earnings per share. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. Analysts predict that Atkore Inc. will post 6.69 EPS for the current year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be issued a $0.32 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 1.36%. Atkore’s dividend payout ratio is currently 10.13%.

Institutional Trading of Atkore

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Atkore by 26.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock valued at $104,599,000 after buying an additional 261,234 shares in the last quarter. American Century Companies Inc. lifted its holdings in Atkore by 22.9% during the second quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock valued at $104,395,000 after purchasing an additional 144,283 shares in the last quarter. Royce & Associates LP boosted its position in shares of Atkore by 20.2% in the third quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock worth $33,562,000 after purchasing an additional 66,533 shares during the period. William Blair Investment Management LLC increased its stake in shares of Atkore by 5.4% in the second quarter. William Blair Investment Management LLC now owns 395,388 shares of the company’s stock worth $53,350,000 after purchasing an additional 20,229 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Atkore by 23.5% during the 2nd quarter. Principal Financial Group Inc. now owns 336,835 shares of the company’s stock valued at $45,449,000 after purchasing an additional 64,050 shares during the period.

Wall Street Analysts Forecast Growth

ATKR has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on Atkore from $99.00 to $93.00 and set a “sector perform” rating on the stock in a report on Friday, November 22nd. B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Loop Capital dropped their price target on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, KeyCorp decreased their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atkore has an average rating of “Hold” and a consensus price target of $117.00.

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.