Atkore (NYSE:ATKR) Sees Strong Trading Volume

Atkore Inc. (NYSE:ATKR) saw unusually-high trading volume on Tuesday . Approximately 1,372,742 shares traded hands during trading, an increase of 129% from the previous session’s volume of 598,777 shares.The stock last traded at $93.68 and had previously closed at $94.58.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. StockNews.com downgraded Atkore from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. B. Riley cut their price objective on shares of Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada cut shares of Atkore from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. KeyCorp cut their price target on shares of Atkore from $175.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Citigroup decreased their price objective on Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $137.00.

Atkore Stock Down 0.0 %

The company’s 50-day simple moving average is $132.85 and its two-hundred day simple moving average is $153.82. The firm has a market cap of $3.45 billion, a PE ratio of 5.90 and a beta of 2.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.98 and a current ratio of 3.09.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.28. The company had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.13 earnings per share. On average, analysts predict that Atkore Inc. will post 14.93 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, August 20th. Atkore’s payout ratio is currently 7.98%.

Insider Buying and Selling at Atkore

In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of the 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 completion of the transaction, the director now owns 15,695 shares in the company, valued at $2,404,944.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $153.23, for a total value of $91,784.77. Following the sale, the director now owns 15,695 shares in the company, valued at $2,404,944.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $47,735.00. Following the transaction, the insider now directly owns 28,086 shares of the company’s stock, valued at approximately $2,681,370.42. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On Atkore

Several hedge funds have recently added to or reduced their stakes in the stock. Boston Partners grew its holdings in shares of Atkore by 12.0% during the first quarter. Boston Partners now owns 1,340,146 shares of the company’s stock valued at $254,733,000 after buying an additional 143,121 shares during the last quarter. River Road Asset Management LLC increased its holdings in shares of Atkore by 14.1% in the 4th quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock worth $201,646,000 after purchasing an additional 155,508 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Atkore by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,067,162 shares of the company’s stock worth $170,753,000 after purchasing an additional 3,568 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Atkore by 28.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 973,116 shares of the company’s stock worth $131,303,000 after purchasing an additional 216,997 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Atkore by 22.9% during the second quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock valued at $104,395,000 after purchasing an additional 144,283 shares in the last quarter.

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.