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HARVEY, Ill. - Atkore Inc. (NYSE: ATKR), a prominent manufacturer of electrical products, announced a modest increase in its quarterly cash dividend. The dividend per share of common stock will rise from $0.32 to $0.33, bringing the annual dividend yield to 2.01%. This change is slated to take effect for the dividends payable on May 28, 2025, to shareholders on record as of May 16, 2025. According to InvestingPro data, the company maintains a strong financial health score of GOOD, supported by liquid assets exceeding short-term obligations.
The company, which operates in various sectors including commercial, industrial, and telecommunications, reported sales of $3.2 billion in the fiscal year 2024. Currently trading at a P/E ratio of 6.04, Atkore’s stock appears undervalued according to InvestingPro Fair Value analysis. Atkore’s workforce consists of 5,600 employees. The company emphasizes delivering sustainable solutions to address the increasing needs for electrification and digital transformation.
Atkore’s decision to increase its dividend reflects a continued commitment to providing value to its shareholders. Dividend adjustments are a key indicator of a company’s financial health and management’s confidence in its future cash flows.
The company has stated that further announcements regarding its developments and financial performance will be communicated through its website, press releases, SEC filings, conference calls, media broadcasts, and webcasts.
This recent dividend increase is based on a press release statement from Atkore Inc. and is intended to provide shareholders with updated information on the company’s financial distribution strategy. As the company prepares to distribute the increased dividend in late May, investors will be watching for further signs of the company’s financial stability and growth potential.
In other recent news, Atkore Inc. has released its preliminary second-quarter financial results, reporting net sales between $695 million and $705 million, despite a net loss attributed to an impairment charge on its HDPE pipe and conduit assets. The company maintains its full-year fiscal 2025 outlook with anticipated net sales of $2,850 million to $2,950 million and adjusted EBITDA of $375 million to $425 million. In legal developments, Atkore has received a subpoena from the U.S. Department of Justice Antitrust Division concerning the pricing of its PVC pipe and conduit products, signaling potential scrutiny over its pricing strategies. Analyst actions have also been notable, with Loop Capital Markets downgrading Atkore’s stock from "Buy" to "Hold" and reducing the price target to $65, citing competitive pressures and pricing challenges. Meanwhile, RBC Capital Markets lowered its price target to $73, maintaining a Sector Perform rating, while KeyBanc Capital Markets adjusted its target to $80 but retained an Overweight rating, highlighting Atkore’s proactive approach to pricing forecasts. Additionally, Atkore has ratified a new 5-year labor contract with the United Steelworkers for its Harvey, Illinois facility. These recent developments underscore the dynamic environment Atkore is navigating, with implications for its financial performance and market position.
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