Atkore Inc. (NYSE:ATKR) Insider Mark F. Lamps Sells 1,000 Shares

Key Points

• Insider Trading: Atkore Inc. insider Mark F. Lamps sold 1,000 shares at an average price of $59.37, reducing his ownership by 3.04% to 31,873 shares.
• Dividend Announcement: Atkore will pay a quarterly dividend of $0.33 per share on August 29th, reflecting an annualized dividend of $1.32 and a yield of 2.3%.
• Analyst Ratings: The stock has a consensus rating of "Hold" with an average target price of $79.57, indicating potential for future growth according to several recent analyst reports.

Atkore Inc. (NYSE:ATKR - Get Free Report) insider Mark F. Lamps sold 1,000 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $59.37, for a total transaction of $59,370.00. Following the completion of the transaction, the insider directly owned 31,873 shares in the company, valued at approximately $1,892,300.01. This represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Atkore Price Performance

NYSE:ATKR traded up $0.07 during mid-day trading on Monday, reaching $57.93. The stock had a trading volume of 69,503 shares, compared to its average volume of 605,612. The stock has a 50-day simple moving average of $69.91 and a two-hundred day simple moving average of $66.32. The stock has a market capitalization of $1.95 billion, a PE ratio of 18.57 and a beta of 2.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.09 and a quick ratio of 2.08. Atkore Inc. has a 12 month low of $49.92 and a 12 month high of $105.28.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Atkore's payout ratio is presently 42.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ATKR. Roth Capital set a $78.00 target price on shares of Atkore and gave the company a "buy" rating in a research report on Wednesday, May 7th. KeyCorp restated a "sector weight" rating on shares of Atkore in a research note on Wednesday, August 6th. Wall Street Zen upgraded Atkore from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Royal Bank Of Canada raised their price objective on Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Finally, Citigroup reiterated a "neutral" rating and set a $80.00 price target (up previously from $70.00) on shares of Atkore in a research report on Monday, June 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $79.57.

Institutional Trading of Atkore

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dogwood Wealth Management LLC bought a new stake in shares of Atkore during the second quarter worth $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Atkore during the second quarter worth $28,000. Kestra Investment Management LLC raised its holdings in Atkore by 710.9% in the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company's stock valued at $31,000 after buying an additional 391 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Atkore by 97.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock valued at $32,000 after buying an additional 259 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Atkore by 1,514.7% in the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after buying an additional 515 shares during the last quarter.

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.

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