Atkore (NYSE:ATKR) Stock Price Up 6.5%

Atkore Inc. (NYSE:ATKR) rose 6.5% on Wednesday . The company traded as high as $138.61 and last traded at $138.30. Approximately 287,928 shares traded hands during trading, a decline of 44% from the average daily volume of 511,238 shares. The stock had previously closed at $129.88.

Wall Street Analysts Forecast Growth

ATKR has been the subject of a number of research analyst reports. Citigroup lowered their price target on Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $187.00 target price on shares of Atkore in a research note on Friday, March 22nd. KeyCorp began coverage on shares of Atkore in a research report on Wednesday. They issued an “overweight” rating and a $175.00 price target for the company. Finally, StockNews.com lowered Atkore from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Atkore has a consensus rating of “Moderate Buy” and a consensus price target of $184.00.

Atkore Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 3.09 and a quick ratio of 1.98. The stock has a 50 day simple moving average of $144.43 and a two-hundred day simple moving average of $157.82. The company has a market cap of $5.21 billion, a PE ratio of 8.92 and a beta of 2.15.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Monday, May 6th. The company reported $4.08 earnings per share for the quarter, beating 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 previous year, the business earned $4.31 earnings per share. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. Equities analysts predict that Atkore Inc. will post 14.93 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Monday, May 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Insider Transactions at Atkore

In other news, Director Wilbert W. James, Jr. sold 599 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 15,695 shares in the company, valued at $2,404,944.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction 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 transaction, the insider now owns 28,586 shares of the company’s stock, valued at $4,507,154.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wilbert W. James, Jr. sold 599 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total value of $91,784.77. Following the transaction, the director now directly owns 15,695 shares in the company, valued at approximately $2,404,944.85. The disclosure for this sale can be found here. Company insiders own 2.56% of the company’s stock.

Institutional Trading of Atkore

Large investors have recently bought and sold shares of the company. ICA Group Wealth Management LLC acquired a new stake in Atkore in the fourth quarter valued at $25,000. GAMMA Investing LLC acquired a new stake in shares of Atkore during the fourth quarter valued at $26,000. LifeSteps Financial Inc. acquired a new stake in shares of Atkore during the first quarter valued at $33,000. Global Retirement Partners LLC boosted its stake in shares of Atkore by 405.1% during the first quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock valued at $38,000 after acquiring an additional 158 shares during the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in shares of Atkore during the fourth quarter valued at $32,000.

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.