Atkore Inc. (NYSE:ATKR) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Atkore Inc. has received a consensus recommendation of "Hold" from seven brokerage firms, with an average price target of $79.57.
• Insider Mark F. Lamps sold 1,000 shares at $59.37 per share, reducing his total holdings by 3.04% to approximately $1.89 million.
• Atkore recently declared a quarterly dividend of $0.33, resulting in an annualized dividend yield of 2.2% and a payout ratio of 42.31%.

Atkore Inc. (NYSE:ATKR - Get Free Report) has earned an average rating of "Hold" from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $79.5714.

Several research analysts have commented on the stock. KeyCorp reissued a "sector weight" rating on shares of Atkore in a report on Wednesday, August 6th. Citigroup reaffirmed a "neutral" rating and issued a $80.00 price target (up previously from $70.00) on shares of Atkore in a report on Monday, June 9th.

Insider Activity at Atkore

In related news, 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 value of $59,370.00. Following the completion of the transaction, the insider owned 31,873 shares of the company's stock, valued at approximately $1,892,300.01. This trade represents a 3.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.99% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Dogwood Wealth Management LLC purchased a new position in shares of Atkore during the 2nd quarter worth about $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Atkore in the 2nd quarter worth about $28,000. Kestra Investment Management LLC raised its position in Atkore by 710.9% in the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company's stock worth $31,000 after purchasing an additional 391 shares during the period. Harbor Capital Advisors Inc. raised its position in Atkore by 97.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock worth $32,000 after purchasing an additional 259 shares during the period. Finally, GAMMA Investing LLC raised its position in Atkore by 1,514.7% in the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after purchasing an additional 515 shares during the period.

Atkore Stock Down 0.1%

ATKR opened at $60.70 on Tuesday. The firm has a 50-day simple moving average of $62.56 and a two-hundred day simple moving average of $64.78. Atkore has a 52 week low of $49.92 and a 52 week high of $105.28. The company has a market capitalization of $2.04 billion, a PE ratio of 19.46 and a beta of 2.16. The company has a quick ratio of 2.08, a current ratio of 3.09 and a debt-to-equity ratio of 0.52.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Tuesday, August 19th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.2%. Atkore's dividend payout ratio (DPR) is presently 42.31%.

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.

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