Insider Selling: Atkore Inc. (NYSE:ATKR) Insider Sells 500 Shares of Stock

Atkore Inc. (NYSE:ATKR) insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, February 10th. The stock was 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 approximately $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Atkore Trading Up 6.0 %

ATKR stock opened at $69.38 on Tuesday. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.41 billion, a P/E 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 business’s 50 day moving average is $83.46 and its 200-day moving average is $89.91.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $680.77 million. During the same period last year, the business earned $4.12 earnings per share. The business’s revenue was down 17.1% on a year-over-year basis. Equities analysts anticipate that Atkore Inc. will post 6.55 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 1.84%. Atkore’s dividend payout ratio is 12.39%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cibc World Markets Corp bought a new position in Atkore in the 4th quarter worth approximately $280,000. Harbour Investments Inc. lifted its stake in shares of Atkore by 3,333.3% during the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the period. Royce & Associates LP boosted its holdings in Atkore by 4.2% in the fourth quarter. Royce & Associates LP now owns 412,752 shares of the company’s stock valued at $34,444,000 after acquiring an additional 16,698 shares during the last quarter. one8zero8 LLC acquired a new stake in Atkore in the fourth quarter worth about $461,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in Atkore during the 4th quarter worth about $5,281,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. KeyCorp dropped their price objective on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Roth Mkm assumed coverage on shares of Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 target price (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $115.00 to $65.00 in a research report on Monday. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Atkore has an average rating of “Moderate Buy” and a consensus price target of $103.17.

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.