Atkore Inc. (NYSE:ATKR) Stock Holdings Increased by Meritage Portfolio Management

Meritage Portfolio Management boosted its position in Atkore Inc. (NYSE:ATKR) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,061 shares of the company’s stock after purchasing an additional 379 shares during the period. Meritage Portfolio Management’s holdings in Atkore were worth $1,130,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in shares of Atkore in the fourth quarter valued at $26,000. Linden Thomas Advisory Services LLC increased its stake in shares of Atkore by 6.3% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 2,347 shares of the company’s stock worth $376,000 after acquiring an additional 139 shares during the last quarter. New York State Common Retirement Fund increased its position in Atkore by 7.2% during the fourth quarter. New York State Common Retirement Fund now owns 57,012 shares of the company’s stock worth $9,122,000 after buying an additional 3,822 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Atkore by 14.7% during the fourth quarter. Wedge Capital Management L L P NC now owns 122,068 shares of the company’s stock worth $19,531,000 after buying an additional 15,686 shares during the last quarter. Finally, Duality Advisers LP increased its position in Atkore by 8.6% during the fourth quarter. Duality Advisers LP now owns 3,850 shares of the company’s stock worth $616,000 after buying an additional 304 shares during the last quarter.

Atkore Stock Performance

Shares of NYSE ATKR traded up $1.49 during mid-day trading on Friday, hitting $182.70. The company had a trading volume of 134,007 shares, compared to its average volume of 452,469. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99. The business’s 50-day simple moving average is $172.72 and its 200-day simple moving average is $153.15. Atkore Inc. has a 12 month low of $116.14 and a 12 month high of $194.98. The firm has a market cap of $6.72 billion, a P/E ratio of 10.95 and a beta of 2.19.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Thursday, February 1st. The company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $1.04. The firm had revenue of $798.50 million during the quarter, compared to analysts’ expectations of $777.05 million. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.51 earnings per share. As a group, analysts predict that Atkore Inc. will post 15.06 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Monday, February 26th. Atkore’s dividend payout ratio is 7.67%.

Insider Transactions at Atkore

In related news, CEO William E. Jr. Waltz sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $173.85, for a total value of $8,692,500.00. Following the completion of the sale, the chief executive officer now owns 83,716 shares of the company’s stock, valued at $14,554,026.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Atkore news, CEO William E. Jr. Waltz sold 50,000 shares of Atkore stock in a transaction on Monday, March 4th. The shares were sold at an average price of $173.85, for a total transaction of $8,692,500.00. Following the completion of the sale, the chief executive officer now owns 83,716 shares of the company’s stock, valued at approximately $14,554,026.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justin A. Kershaw sold 1,099 shares of Atkore stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.77, for a total transaction of $188,775.23. Following the sale, the director now directly owns 16,686 shares of the company’s stock, valued at approximately $2,866,154.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,464 shares of company stock valued at $25,124,751. Corporate insiders own 2.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $187.00 target price on shares of Atkore in a research report on Friday, March 22nd. StockNews.com upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Citigroup upped their price target on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, April 8th.

Atkore 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.