In a recent transaction, Mark F. Lamps, the President of Safety & Infrastructure at Atkore Inc. (NYSE:ATKR), sold 500 shares of the company's common stock. The sale, which took place on May 14, 2024, was executed at a price of $157.67 per share, resulting in a total transaction value of $78,835.
The transaction was made public through a Form 4 filing with the Securities and Exchange Commission. According to the filing, Lamps followed a prearranged trading plan, known as a Rule 10b5-1 plan, which he had adopted on February 13, 2024. Such plans allow company insiders to sell a predetermined number of shares at a predetermined time to avoid accusations of trading on nonpublic information.
Following this sale, Lamps still holds 28,586 shares of Atkore Inc., indicating a continued investment in the company's future. Atkore Inc. is known for its role in the miscellaneous electrical machinery, equipment, and supplies industry, and maintains its headquarters in Harvey, Illinois.
Investors and market watchers often pay close attention to insider sales as they can provide insights into an executive's perspective on the company's current valuation and future prospects. However, it is important to note that insider transactions are not always indicative of a company's trajectory and can be influenced by a variety of personal financial needs or portfolio strategies.
The details of the transaction, including the number of shares sold and the price per share, are publicly accessible through the SEC's filing system for those interested in the specifics of insider activity at Atkore Inc.
InvestingPro Insights
Atkore Inc. (NYSE:ATKR) has been a subject of interest following the insider sale by Mark F. Lamps. To provide a broader investment context, here are some key metrics and insights from InvestingPro:
- The company's market capitalization stands at $5.67 billion, reflecting its valuation in the market as of the last twelve months leading up to Q2 2024.
- Atkore is trading at a low earnings multiple, with a P/E (Price-to-Earnings) ratio of 9.6, which dropped slightly to an adjusted 9.25 in the last twelve months as of Q2 2024.
- Despite a revenue decline of 11.52% during the same period, the company's gross profit margin remains strong at 36.52%, indicating its ability to maintain profitability relative to its revenue.
InvestingPro Tips highlight that Atkore's stock price movements are quite volatile, which could be of interest to investors looking for dynamic trading opportunities. Additionally, the company's cash flows are reported to sufficiently cover interest payments, suggesting financial stability in terms of debt management.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available, including insights on the company's debt levels, profitability forecasts, and historical returns. In total, there are 11 more tips listed on InvestingPro, which can be accessed at: https://www.investing.com/pro/ATKR. To further enhance your investing strategy, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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