Atkore Inc. (NYSE:ATKR) Shares Purchased by Meritage Portfolio Management

Meritage Portfolio Management lifted its position in Atkore Inc. (NYSE:ATKR) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,061 shares of the company’s stock after acquiring an additional 379 shares during the quarter. Meritage Portfolio Management’s holdings in Atkore were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Atkore Stock Performance

Atkore stock traded up $1.49 during mid-day trading on Friday, reaching $182.70. 134,007 shares of the company were exchanged, compared to its average volume of 452,469. Atkore Inc. has a twelve month low of $116.14 and a twelve month high of $194.98. The firm’s 50-day simple moving average is $172.72 and its two-hundred day simple moving average is $153.15. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.99 and a current ratio of 2.96. The firm has a market cap of $6.72 billion, a PE ratio of 10.95 and a beta of 2.19.

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

Atkore Announces Dividend

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

Insider Activity

In other news, 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 value of $188,775.23. Following the completion of the sale, the director now owns 16,686 shares of the company’s stock, valued at $2,866,154.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Atkore news, Director Justin A. Kershaw sold 1,099 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $171.77, for a total transaction of $188,775.23. Following the transaction, the director now owns 16,686 shares in the company, valued at $2,866,154.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Leangela W. Lowe sold 6,500 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $176.07, for a total value of $1,144,455.00. Following the transaction, the vice president now owns 25,590 shares in the company, valued at approximately $4,505,631.30. The disclosure for this sale can be found here. Insiders sold a total of 148,464 shares of company stock valued at $25,124,751 over the last quarter. Company insiders own 2.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ATKR. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $187.00 target price on shares of Atkore in a research report on Friday, March 22nd. Citigroup upped their target price on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Friday, April 5th.

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.