Atkore (NYSE:ATKR) Announces Earnings Results

Atkore (NYSE:ATKR) posted its earnings results on Monday. The company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.86, Briefing.com reports. The company had revenue of $792.90 million for the quarter, compared to analysts’ expectations of $808.22 million. Atkore had a net margin of 18.80% and a return on equity of 46.79%. Atkore’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.31 earnings per share.

Atkore Stock Up 1.9 %

ATKR stock opened at $160.66 on Thursday. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 9.45 and a beta of 2.19. Atkore has a fifty-two week low of $116.14 and a fifty-two week high of $194.98. 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’s 50 day moving average price is $176.60 and its 200 day moving average price is $155.43.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, May 21st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.80%. Atkore’s payout ratio is 7.67%.

Analyst Ratings Changes

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

Insider Buying and Selling at Atkore

In other Atkore news, insider John W. Pregenzer sold 6,548 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $158.49, for a total value of $1,037,792.52. Following the transaction, the insider now directly owns 30,430 shares in the company, valued at $4,822,850.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $160.48, for a total value of $6,912,194.56. Following the transaction, the chief executive officer now directly owns 83,716 shares in the company, valued at $13,434,743.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John W. Pregenzer sold 6,548 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $158.49, for a total value of $1,037,792.52. Following the completion of the sale, the insider now directly owns 30,430 shares of the company’s stock, valued at $4,822,850.70. The disclosure for this sale can be found here. Insiders have sold 148,464 shares of company stock worth $25,124,751 over the last three months. Insiders own 2.56% of the company’s stock.

Atkore Company Profile

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.