Atkore Inc. (NYSE:ATKR) Announces Quarterly Dividend of $0.33

Key Points

• Atkore declared a quarterly dividend of $0.33 per share, payable August 28 to shareholders of record as of August 18. The dividend implies an annualized payout of $1.32 and a yield of approximately 1.9%.
• The dividend appears well covered, with a current payout ratio of 20.4%; analysts expect next year’s earnings to support an estimated 24.0% payout ratio.
• Atkore’s latest quarterly results exceeded expectations, with EPS of $1.23 versus the $1.00 consensus and revenue of $731.38 million, up 4.2% year over year. Two directors sold shares in May, while several institutional investors increased their positions.

Atkore Inc. (NYSE:ATKR - Get Free Report) declared a quarterly dividend on Thursday, July 30th. Investors of record on Tuesday, August 18th will be paid a dividend of 0.33 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, August 18th.

Atkore has a dividend payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Atkore to earn $5.50 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 24.0%.

Atkore Price Performance

Atkore stock opened at $71.29 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.64 and a debt-to-equity ratio of 0.59. Atkore has a 52-week low of $53.49 and a 52-week high of $90.16. The firm has a market cap of $2.41 billion, a PE ratio of -19.91 and a beta of 1.68. The company's 50 day moving average is $77.05 and its two-hundred day moving average is $70.77.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.23. The business had revenue of $731.38 million for the quarter, compared to analysts' expectations of $714.18 million. Atkore had a positive return on equity of 9.22% and a negative net margin of 4.19%.The company's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $2.04 earnings per share. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. On average, research analysts expect that Atkore will post 4.75 EPS for the current fiscal year.

Insider Buying and Selling at Atkore

In other Atkore news, Director Justin A. Kershaw sold 2,799 shares of Atkore stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $73.67, for a total value of $206,202.33. Following the completion of the sale, the director directly owned 18,610 shares of the company's stock, valued at approximately $1,370,998.70. The trade was a 13.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wilbert W. James, Jr. sold 3,299 shares of Atkore stock in a transaction on Friday, May 8th. The shares were sold at an average price of $73.61, for a total value of $242,839.39. Following the completion of the transaction, the director owned 17,063 shares in the company, valued at $1,256,007.43. The trade was a 16.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Atkore by 15.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company's stock valued at $7,009,000 after buying an additional 16,028 shares during the period. Intech Investment Management LLC grew its position in shares of Atkore by 59.7% during the 1st quarter. Intech Investment Management LLC now owns 29,363 shares of the company's stock valued at $1,761,000 after buying an additional 10,972 shares during the last quarter. Strs Ohio acquired a new stake in Atkore during the first quarter worth about $36,000. Finally, Norges Bank bought a new position in Atkore in the second quarter worth about $467,000.

About Atkore

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.

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