Benjamin Edwards Inc. Raises Stock Position in Atkore Inc. (NYSE:ATKR)

Benjamin Edwards Inc. grew its stake in shares of Atkore Inc. (NYSE:ATKR) by 15.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 917 shares of the company’s stock after acquiring an additional 123 shares during the period. Benjamin Edwards Inc.’s holdings in Atkore were worth $147,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its stake in Atkore by 4.4% in the third quarter. Commonwealth Equity Services LLC now owns 4,907 shares of the company’s stock worth $732,000 after acquiring an additional 205 shares during the period. Raymond James & Associates boosted its stake in shares of Atkore by 8.1% during the third quarter. Raymond James & Associates now owns 172,932 shares of the company’s stock valued at $25,800,000 after purchasing an additional 12,921 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Atkore by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 198,222 shares of the company’s stock valued at $29,573,000 after buying an additional 4,032 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Atkore by 4.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 544,508 shares of the company’s stock worth $81,235,000 after buying an additional 25,061 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Atkore by 8.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 230,334 shares of the company’s stock worth $34,364,000 after buying an additional 17,128 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ATKR shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $187.00 price target on shares of Atkore in a 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 increased their price target 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.

Insiders Place Their Bets

In other news, VP Leangela W. Lowe sold 6,500 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the sale, the vice president now directly owns 25,590 shares of the company’s stock, valued at $4,505,631.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO William E. Jr. Waltz sold 43,072 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $160.48, for a total value of $6,912,194.56. Following the transaction, the chief executive officer now owns 83,716 shares in the company, valued at approximately $13,434,743.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Leangela W. Lowe sold 6,500 shares of Atkore stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the sale, the vice president now owns 25,590 shares of the company’s stock, valued at $4,505,631.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,464 shares of company stock valued at $25,124,751. Insiders own 2.56% of the company’s stock.

Atkore Stock Performance

Shares of ATKR opened at $176.25 on Friday. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51. The firm has a market cap of $6.48 billion, a PE ratio of 10.57 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 stock has a fifty day moving average price of $176.60 and a 200-day moving average price of $154.71.

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

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, May 21st will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Monday, May 20th. Atkore’s payout ratio is currently 7.67%.

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.