Atkore Inc. (ATKR) To Go Ex-Dividend on February 18th

Atkore Inc. (NYSE:ATKR) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Investors of record on Tuesday, February 18th will be paid a dividend of 0.32 per share on Friday, February 28th. This represents a $1.28 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, February 18th.

Atkore has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Atkore to earn $7.78 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 16.5%.

Atkore Stock Down 2.5 %

Shares of Atkore stock opened at $81.45 on Friday. The business’s 50 day simple moving average is $86.07 and its 200 day simple moving average is $93.29. Atkore has a 52-week low of $76.01 and a 52-week high of $194.98. The firm has a market cap of $2.83 billion, a PE ratio of 6.45 and a beta of 2.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98.

Atkore (NYSE:ATKR) last announced its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). Atkore had a net margin of 14.77% and a return on equity of 32.14%. The firm had revenue of $788.30 million during the quarter, compared to analyst estimates of $749.49 million. During the same period in the prior year, the business posted $3.63 EPS. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. On average, analysts predict that Atkore will post 6.62 earnings per share for the current fiscal year.

Insider Transactions at Atkore

In related news, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the transaction, the director now directly owns 25,585 shares in the company, valued at approximately $2,405,757.55. This represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the sale, the insider now owns 27,626 shares of the company’s stock, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,924 shares of company stock worth $1,614,975. 1.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and decreased their price target for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Roth Capital upgraded Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Loop Capital decreased their price target on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Roth Mkm assumed coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.67.

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.