Atkore (NYSE:ATKR) Sets New 52-Week High at $167.05

Atkore Inc. (NYSE:ATKRGet Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $167.05 and last traded at $166.63, with a volume of 40459 shares traded. The stock had previously closed at $163.93.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ATKR. Royal Bank of Canada reissued an “outperform” rating and issued a $187.00 price target on shares of Atkore in a research note on Friday, February 2nd. StockNews.com cut Atkore from a “buy” rating to a “hold” rating in a research note on Tuesday.

Check Out Our Latest Report on Atkore

Atkore Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.99 and a current ratio of 2.96. The company has a 50 day simple moving average of $152.90 and a two-hundred day simple moving average of $144.69. The company has a market cap of $6.07 billion, a PE ratio of 9.83 and a beta of 2.18.

Atkore (NYSE:ATKRGet Free Report) last released its earnings results on Thursday, February 1st. The company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.08 by $1.04. The company had revenue of $798.50 million for the quarter, compared to analysts’ expectations of $777.05 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.51 EPS. Sell-side analysts forecast that Atkore Inc. will post 15.06 EPS for the current year.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $1.28 annualized dividend and a dividend yield of 0.78%. Atkore’s dividend payout ratio is 7.67%.

Insider Activity

In other news, insider John W. Pregenzer sold 6,548 shares of Atkore stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $158.49, for a total transaction of $1,037,792.52. Following the completion of the sale, the insider now directly owns 30,430 shares in the company, valued at approximately $4,822,850.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider John W. Pregenzer sold 6,548 shares of Atkore stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $158.49, for a total transaction of $1,037,792.52. Following the completion of the sale, the insider now directly owns 30,430 shares in the company, valued at approximately $4,822,850.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William E. Jr. Waltz sold 43,072 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the completion of the sale, the chief executive officer now owns 83,716 shares of the company’s stock, valued at $13,434,743.68. The disclosure for this sale can be found here. Insiders sold a total of 129,220 shares of company stock worth $19,949,687 in the last three months. 2.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Atkore

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in Atkore in the 4th quarter worth approximately $26,000. Orion Capital Management LLC acquired a new stake in Atkore in the 3rd quarter worth approximately $30,000. Quarry LP lifted its holdings in Atkore by 72.4% in the 2nd quarter. Quarry LP now owns 200 shares of the company’s stock worth $31,000 after purchasing an additional 84 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in Atkore in the 4th quarter worth approximately $32,000. Finally, Captrust Financial Advisors lifted its holdings in Atkore by 85.6% in the 2nd quarter. Captrust Financial Advisors now owns 607 shares of the company’s stock worth $50,000 after purchasing an additional 280 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

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