Atkore Inc. (NYSE:ATKR) Director Wilbert W. James, Jr. Sells 599 Shares of Stock

Atkore Inc. (NYSE:ATKRGet Free Report) Director Wilbert W. James, Jr. sold 599 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total transaction of $91,784.77. Following the transaction, the director now directly owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Atkore Trading Down 0.7 %

ATKR stock opened at $140.44 on Tuesday. Atkore Inc. has a 52-week low of $121.00 and a 52-week high of $194.98. The company has a quick ratio of 1.98, a current ratio of 3.09 and a debt-to-equity ratio of 0.49. The firm has a market cap of $5.12 billion, a P/E ratio of 8.76 and a beta of 2.16. The company’s 50-day simple moving average is $164.54 and its 200-day simple moving average is $159.19.

Atkore (NYSE:ATKRGet Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.86. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The company had revenue of $792.90 million during the quarter, compared to analysts’ expectations of $808.22 million. During the same quarter in the prior year, the firm posted $4.31 EPS. Atkore’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, equities analysts forecast that Atkore Inc. will post 14.93 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were paid a $0.32 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.28 dividend on an annualized basis and a yield of 0.91%. Atkore’s dividend payout ratio is currently 7.98%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup cut their price target on Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. StockNews.com cut Atkore from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $187.00 price objective on shares of Atkore in a research report on Friday, March 22nd.

View Our Latest Stock Analysis on ATKR

Institutional Investors Weigh In On Atkore

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cornercap Investment Counsel Inc. grew its position in shares of Atkore by 1.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 5,017 shares of the company’s stock valued at $803,000 after purchasing an additional 63 shares during the period. Ritholtz Wealth Management boosted its holdings in Atkore by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 2,042 shares of the company’s stock worth $327,000 after buying an additional 69 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in Atkore by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 4,782 shares of the company’s stock worth $765,000 after buying an additional 69 shares during the last quarter. Riverwater Partners LLC increased its stake in Atkore by 0.6% during the 4th quarter. Riverwater Partners LLC now owns 13,245 shares of the company’s stock worth $2,119,000 after buying an additional 78 shares in the last quarter. Finally, Navellier & Associates Inc. raised its holdings in shares of Atkore by 0.7% during the third quarter. Navellier & Associates Inc. now owns 11,837 shares of the company’s stock valued at $1,766,000 after acquiring an additional 83 shares during the last quarter.

About Atkore

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Atkore (NYSE:ATKR)

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