Centric Wealth Management Has $3.90 Million Holdings in Atkore Inc. (NYSE:ATKR)

Centric Wealth Management boosted its holdings in shares of Atkore Inc. (NYSE:ATKR) by 5.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,381 shares of the company’s stock after purchasing an additional 1,280 shares during the period. Atkore accounts for approximately 1.2% of Centric Wealth Management’s holdings, making the stock its 20th largest holding. Centric Wealth Management’s holdings in Atkore were worth $3,901,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Atkore by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,985 shares of the company’s stock worth $89,278,000 after purchasing an additional 17,012 shares in the last quarter. Spire Wealth Management raised its position in shares of Atkore by 15.5% during the fourth quarter. Spire Wealth Management now owns 33,162 shares of the company’s stock worth $5,075,000 after acquiring an additional 4,461 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Atkore by 371.3% during the fourth quarter. National Bank of Canada FI now owns 21,960 shares of the company’s stock valued at $3,581,000 after acquiring an additional 17,301 shares during the period. Measured Wealth Private Client Group LLC lifted its stake in shares of Atkore by 3.4% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,740 shares of the company’s stock valued at $758,000 after acquiring an additional 155 shares during the period. Finally, Power Wealth Management LLC bought a new position in Atkore in the fourth quarter valued at about $203,000.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Atkore

In related news, VP Daniel S. Kelly sold 8,685 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the sale, the vice president now owns 34,907 shares of the company’s stock, valued at $6,041,354.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Atkore news, VP Daniel S. Kelly sold 8,685 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the completion of the transaction, the vice president now owns 34,907 shares of the company’s stock, valued at $6,041,354.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William E. Jr. Waltz sold 43,072 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $160.48, for a total transaction of $6,912,194.56. Following the completion of the sale, the chief executive officer now owns 83,716 shares in the company, valued at approximately $13,434,743.68. The disclosure for this sale can be found here. Insiders have sold a total of 148,464 shares of company stock worth $25,124,751 over the last ninety days. Insiders own 2.56% of the company’s stock.

Atkore Stock Up 1.3 %

Shares of Atkore stock traded up $1.95 during trading on Wednesday, reaching $156.29. The stock had a trading volume of 613,583 shares, compared to its average volume of 478,781. 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 company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 9.43 and a beta of 2.19. The stock has a fifty day moving average price of $176.72 and a two-hundred day moving average price of $155.41. Atkore Inc. has a 52 week low of $116.14 and a 52 week high of $194.98.

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

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be given 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 7.67%.

Atkore Company 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.