Insider Selling: Atkore (NYSE:ATKR) Director Sells 3,299 Shares of Stock

Key Points

• Atkore director Wilbert James, Jr. sold 3,299 shares at an average price of $73.61, worth about $242,839, cutting his direct holdings by 16.2% to 17,063 shares.
• The company beat earnings expectations for the quarter, posting $1.23 EPS versus the $1.00 consensus and revenue of $731.38 million, up 4.2% year over year.
• Atkore also announced a quarterly dividend of $0.33 per share, payable May 29, and analysts currently rate the stock a consensus Hold with an average price target of $81.67.

Atkore Inc. (NYSE:ATKR - Get Free Report) Director Wilbert James, Jr. sold 3,299 shares of the business's stock in a transaction dated 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 directly owned 17,063 shares of the company's stock, valued at approximately $1,256,007.43. This trade represents a 16.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Atkore Price Performance

Atkore stock traded up $0.11 during trading hours on Friday, reaching $74.08. 347,539 shares of the stock were exchanged, compared to its average volume of 396,481. The company has a current ratio of 3.42, a quick ratio of 2.40 and a debt-to-equity ratio of 0.54. Atkore Inc. has a twelve month low of $53.49 and a twelve month high of $80.06. The company has a market cap of $2.50 billion, a P/E ratio of -20.69 and a beta of 1.67. The stock has a 50 day moving average of $64.96 and a two-hundred day moving average of $66.11.

Atkore (NYSE:ATKR - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.00 by $0.23. Atkore had a negative net margin of 4.19% and a positive return on equity of 8.99%. The company had revenue of $731.38 million during the quarter, compared to analysts' expectations of $714.18 million. During the same period in the previous year, the company earned $2.04 EPS. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Equities analysts expect that Atkore Inc. will post 4.71 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, May 19th. Atkore's payout ratio is currently -36.87%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Atkore from a "buy" rating to a "hold" rating in a research note on Monday, April 20th. Roth Mkm boosted their target price on Atkore from $71.00 to $77.00 and gave the stock a "buy" rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a "sell (d)" rating on shares of Atkore in a report on Friday, May 1st. Citigroup lifted their price target on shares of Atkore from $74.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Royal Bank Of Canada increased their price objective on shares of Atkore from $71.00 to $82.00 and gave the company a "sector perform" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $81.67.

Institutional Investors Weigh In On Atkore

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Atkore by 8.1% during the third quarter. Vanguard Group Inc. now owns 3,632,594 shares of the company's stock valued at $227,909,000 after acquiring an additional 273,466 shares during the last quarter. First Trust Advisors LP raised its position in Atkore by 18.7% during the 4th quarter. First Trust Advisors LP now owns 1,385,741 shares of the company's stock worth $87,648,000 after purchasing an additional 218,358 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Atkore by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company's stock worth $72,341,000 after buying an additional 97,514 shares during the period. American Century Companies Inc. lifted its holdings in Atkore by 14.3% during the 3rd quarter. American Century Companies Inc. now owns 1,158,103 shares of the company's stock worth $72,659,000 after buying an additional 144,844 shares during the period. Finally, LSV Asset Management grew its position in shares of Atkore by 5.8% in the 4th quarter. LSV Asset Management now owns 960,450 shares of the company's stock valued at $60,748,000 after buying an additional 52,850 shares during the last quarter.

Atkore Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.