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

Key Points

• Atkore Inc. is set to pay a quarterly dividend of $0.33 per share, resulting in an annualized dividend of $1.32 with a yield of 1.70%, supported by a payout ratio of 20.4%.
• The company's stock is currently trading at $77.71, down 0.4%, and has a market cap of $2.61 billion with a price-to-earnings ratio of 14.94.
• Analysts have varied ratings on Atkore, with a consensus "Moderate Buy" and target prices ranging from $70.00 to $80.00 according to recent brokerage updates.

Atkore Inc. (NYSE:ATKR - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Stockholders of record on Tuesday, August 19th will be given a dividend of 0.33 per share on Friday, August 29th. This represents a c) dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, August 19th.

Atkore has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Atkore to earn $5.36 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 24.6%.

Atkore Trading Down 1.6%

ATKR stock traded down $1.25 during trading on Friday, hitting $75.77. 504,503 shares of the company traded hands, compared to its average volume of 445,524. The firm has a market capitalization of $2.55 billion, a PE ratio of 14.57 and a beta of 2.10. Atkore has a 1 year low of $49.92 and a 1 year high of $124.69. The company has a 50-day moving average of $71.50 and a 200-day moving average of $68.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 3.02.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.52. The business had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. Atkore had a return on equity of 20.81% and a net margin of 6.48%. Atkore's quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.08 EPS. Analysts predict that Atkore will post 5.79 earnings per share for the current fiscal year.

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.