Insider Selling: Atkore (NYSE:ATKR) Insider Sells 300 Shares

Atkore Inc. (NYSE:ATKR) insider Mark Lamps sold 300 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $93.75, for a total transaction of $28,125.00. Following the completion of the transaction, the insider directly owned 35,803 shares of the company’s stock, valued at approximately $3,356,531.25. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Atkore Price Performance

Shares of NYSE:ATKR traded up $0.04 during trading on Monday, reaching $93.75. The company had a trading volume of 1,136,093 shares, compared to its average volume of 520,393. The stock has a market capitalization of $3.17 billion, a P/E ratio of -19.49 and a beta of 1.68. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59. Atkore Inc. has a 12 month low of $53.49 and a 12 month high of $93.88. The company has a fifty day moving average of $77.83 and a two-hundred day moving average of $71.61.

Atkore (NYSE:ATKR) last issued its earnings results on Monday, August 3rd. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.39. The company had revenue of $794.80 million for the quarter, compared to analysts’ expectations of $756.23 million. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. During the same quarter last year, the company earned $2.17 EPS. Equities research analysts forecast that Atkore Inc. will post 4.75 earnings per share for the current year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, August 18th. Atkore’s dividend payout ratio is presently -27.44%.

Hedge Funds Weigh In On Atkore

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Atkore during the 2nd quarter worth $236,958,000. Coliseum Capital Management LLC bought a new stake in Atkore in the fourth quarter valued at approximately $51,189,000. Earnest Partners LLC acquired a new position in shares of Atkore in the 4th quarter valued at $49,571,000. Oslo Pensjonsforsikring AS bought a new position in Atkore during the first quarter worth about $22,209,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Atkore in the third quarter worth about $21,214,000.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a report on Wednesday, July 29th. Citigroup increased their target price on Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Roth Capital downgraded shares of Atkore from a “buy” rating to a “neutral” rating and lifted their price target for the company from $85.00 to $92.00 in a research note on Tuesday, August 4th. Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research note on Thursday, July 16th. Finally, Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $143.33.

Atkore Company Profile

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.