Atkore Inc. (NYSE:ATKR) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Atkore Inc. has received an average recommendation of "Hold" from eight analysts, with one sell, five hold, and two buy ratings, while the average one-year price objective is $79.57.
• Insider Mark F. Lamps sold 1,000 shares of Atkore stock at an average price of $59.37, decreasing his ownership by 3.04%.
• Atkore announced a quarterly dividend of $0.33 per share, representing an annualized yield of 1.9% with a payout ratio of 42.31%.

Shares of Atkore Inc. (NYSE:ATKR - Get Free Report) have received an average rating of "Hold" from the eight analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $79.5714.

Several research analysts have recently issued reports on ATKR shares. Weiss Ratings cut Atkore from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday. KeyCorp reissued a "sector weight" rating on shares of Atkore in a research note on Wednesday, August 6th.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 1,000 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $59.37, for a total transaction of $59,370.00. Following the completion of the transaction, the insider owned 31,873 shares of the company's stock, valued at $1,892,300.01. This trade represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. CWM LLC boosted its stake in Atkore by 952.0% during the first quarter. CWM LLC now owns 5,565 shares of the company's stock valued at $334,000 after buying an additional 5,036 shares in the last quarter. GAMMA Investing LLC boosted its stake in Atkore by 1,514.7% during the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after buying an additional 515 shares in the last quarter. KBC Group NV boosted its stake in Atkore by 29.5% during the first quarter. KBC Group NV now owns 1,881 shares of the company's stock valued at $113,000 after buying an additional 429 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Atkore during the second quarter valued at about $298,000. Finally, Signal Advisors Wealth LLC bought a new position in Atkore during the second quarter valued at about $671,000.

Atkore Trading Up 0.8%

NYSE:ATKR opened at $68.45 on Friday. Atkore has a 1 year low of $49.92 and a 1 year high of $105.28. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 21.94 and a beta of 2.13. The business has a fifty day moving average of $61.50 and a 200-day moving average of $65.26. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.08 and a current ratio of 3.09.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Tuesday, August 19th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.32 annualized dividend and a yield of 1.9%. Atkore's dividend payout ratio (DPR) is currently 42.31%.

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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