Atkore (NYSE:ATKR) Shares Up 3.2%

Atkore Inc. (NYSE:ATKR - Get Free Report)'s stock price was up 3.2% during mid-day trading on Monday . The company traded as high as $177.36 and last traded at $177.12. Approximately 77,124 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 445,599 shares. The stock had previously closed at $171.57.

Analysts Set New Price Targets

A number of analysts have issued reports on ATKR shares. Citigroup lifted their price objective on Atkore from $176.00 to $200.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $187.00 price objective on shares of Atkore in a research note on Friday, March 22nd. Finally, StockNews.com raised Atkore from a "hold" rating to a "buy" rating in a research note on Friday, April 5th.

Atkore Trading Up 2.5 %

The stock has a market cap of $6.47 billion, a P/E ratio of 10.54 and a beta of 2.19. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $168.19 and a two-hundred day moving average price of $151.56.

Atkore (NYSE:ATKR - Get Free Report) last released its earnings results on Thursday, February 1st. The company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.08 by $1.04. The firm had revenue of $798.50 million for the quarter, compared to the consensus estimate of $777.05 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.51 EPS. On average, research analysts expect that Atkore Inc. will post 15.06 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Monday, February 26th. Atkore's dividend payout ratio is 7.67%.

Insiders Place Their Bets

In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of the company's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the completion of the sale, the chief executive officer now directly owns 83,716 shares in the company, valued at approximately $13,434,743.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO William E. Jr. Waltz sold 43,072 shares of the company's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.48, for a total transaction of $6,912,194.56. Following the completion of the sale, the chief executive officer now directly owns 83,716 shares in the company, valued at approximately $13,434,743.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justin A. Kershaw sold 1,099 shares of the company's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.77, for a total value of $188,775.23. Following the sale, the director now owns 16,686 shares of the company's stock, valued at $2,866,154.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,464 shares of company stock worth $25,124,751. 2.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Steph & Co. increased its position in Atkore by 14.4% during the 1st quarter. Steph & Co. now owns 1,739 shares of the company's stock valued at $331,000 after buying an additional 219 shares in the last quarter. RFG Advisory LLC increased its position in Atkore by 8.9% during the 1st quarter. RFG Advisory LLC now owns 2,164 shares of the company's stock valued at $412,000 after buying an additional 177 shares in the last quarter. Park Avenue Securities LLC increased its position in Atkore by 19.9% during the 1st quarter. Park Avenue Securities LLC now owns 6,593 shares of the company's stock valued at $1,255,000 after buying an additional 1,096 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Atkore by 534.7% in the first quarter. Banque Cantonale Vaudoise now owns 2,869 shares of the company's stock valued at $546,000 after purchasing an additional 2,417 shares during the period. Finally, Kapitalo Investimentos Ltda increased its holdings in shares of Atkore by 2,658.8% in the fourth quarter. Kapitalo Investimentos Ltda now owns 938 shares of the company's stock valued at $150,000 after purchasing an additional 904 shares during the period.

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.