Centric Wealth Management Increases Stock Holdings in Atkore Inc. (NYSE:ATKR)

Centric Wealth Management lifted its holdings in Atkore Inc. (NYSE:ATKR) by 5.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,381 shares of the company’s stock after purchasing an additional 1,280 shares during the period. Atkore comprises approximately 1.2% of Centric Wealth Management’s holdings, making the stock its 20th biggest position. Centric Wealth Management owned approximately 0.07% of Atkore worth $3,901,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. River Road Asset Management LLC increased its holdings in shares of Atkore by 14.1% in the 4th quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock worth $201,646,000 after buying an additional 155,508 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Atkore by 0.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,126,630 shares of the company’s stock worth $168,082,000 after acquiring an additional 7,574 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Atkore by 13.8% in the 3rd quarter. Invesco Ltd. now owns 818,309 shares of the company’s stock valued at $122,084,000 after purchasing an additional 99,345 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Atkore by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 629,420 shares of the company’s stock worth $100,707,000 after purchasing an additional 12,189 shares during the period. Finally, Boston Partners increased its position in shares of Atkore by 149.7% during the 3rd quarter. Boston Partners now owns 601,910 shares of the company’s stock valued at $88,670,000 after purchasing an additional 360,837 shares during the last quarter.

Insider Transactions at Atkore

In other Atkore news, CEO William E. Jr. Waltz sold 50,000 shares of the business’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 transaction of $8,692,500.00. Following the completion of the transaction, the chief executive officer now owns 83,716 shares in the company, valued at approximately $14,554,026.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William E. Jr. Waltz sold 43,072 shares of Atkore 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 transaction, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at $13,434,743.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William E. Jr. Waltz sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at approximately $14,554,026.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,464 shares of company stock valued at $25,124,751. 2.56% of the stock is currently owned by company insiders.

Atkore Stock Performance

Shares of NYSE ATKR traded up $1.95 during trading on Wednesday, reaching $156.29. 613,583 shares of the company traded hands, compared to its average volume of 478,781. The stock has a market cap of $5.75 billion, a P/E ratio of 9.43 and a beta of 2.19. Atkore Inc. has a 12-month low of $116.14 and a 12-month high of $194.98. The firm’s fifty day simple moving average is $176.72 and its 200 day simple moving average is $155.41. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Monday, May 6th. The company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.86. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The company had revenue of $792.90 million during the quarter, compared to analysts’ expectations of $808.22 million. During the same quarter in the prior year, the firm posted $4.31 EPS. Atkore’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, research analysts anticipate that Atkore Inc. will post 15.06 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.28 dividend on an annualized basis and a yield of 0.82%. Atkore’s dividend payout ratio (DPR) is presently 7.67%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ATKR shares. StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Royal Bank of Canada restated an “outperform” rating and set a $187.00 target price on shares of Atkore in a research report on Friday, March 22nd. Finally, Citigroup raised their price target on Atkore from $176.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th.

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.