Atkore Inc. (NYSE:ATKR) Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its holdings in shares of Atkore Inc. (NYSE:ATKRFree Report) by 24.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 346,866 shares of the company’s stock after purchasing an additional 68,175 shares during the quarter. Clearbridge Investments LLC owned about 0.94% of Atkore worth $55,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ATKR. Cornercap Investment Counsel Inc. boosted its holdings in Atkore by 1.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 5,017 shares of the company’s stock valued at $803,000 after acquiring an additional 63 shares during the period. Ritholtz Wealth Management boosted its holdings in Atkore by 3.5% during the 4th quarter. Ritholtz Wealth Management now owns 2,042 shares of the company’s stock valued at $327,000 after acquiring an additional 69 shares during the period. SummerHaven Investment Management LLC boosted its holdings in Atkore by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 4,782 shares of the company’s stock valued at $765,000 after acquiring an additional 69 shares during the period. Riverwater Partners LLC boosted its holdings in Atkore by 0.6% during the 4th quarter. Riverwater Partners LLC now owns 13,245 shares of the company’s stock valued at $2,119,000 after acquiring an additional 78 shares during the period. Finally, Navellier & Associates Inc. boosted its holdings in Atkore by 0.7% during the 3rd quarter. Navellier & Associates Inc. now owns 11,837 shares of the company’s stock valued at $1,766,000 after acquiring an additional 83 shares during the period.

Atkore Stock Performance

Shares of ATKR opened at $155.30 on Thursday. The stock has a 50-day simple moving average of $173.89 and a 200-day simple moving average of $157.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.98 and a current ratio of 3.09. The stock has a market capitalization of $5.66 billion, a PE ratio of 9.68 and a beta of 2.19. Atkore Inc. has a 1 year low of $116.14 and a 1 year high of $194.98.

Atkore (NYSE:ATKRGet Free Report) last issued its earnings results on Monday, May 6th. The company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.86. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The business had revenue of $792.90 million for the quarter, compared to analyst estimates of $808.22 million. During the same quarter last year, the company earned $4.31 EPS. The business’s quarterly revenue was down 11.5% on a year-over-year basis. On average, analysts predict that Atkore Inc. will post 14.93 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Monday, May 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Insider Transactions at Atkore

In other news, CEO William E. Jr. Waltz sold 43,072 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 83,716 shares of the company’s stock, valued at approximately $13,434,743.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of Atkore stock in a transaction that occurred 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 transaction, the chief executive officer now owns 83,716 shares of the company’s stock, valued at $13,434,743.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total value of $78,835.00. Following the transaction, the insider now directly owns 28,586 shares in the company, valued at approximately $4,507,154.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,964 shares of company stock valued at $25,203,586. Corporate insiders own 2.56% of the company’s stock.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of research analyst reports. Citigroup lowered their target price on Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Royal Bank of Canada restated an “outperform” rating and set a $187.00 target price on shares of Atkore in a report on Friday, March 22nd. Finally, StockNews.com cut Atkore from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th.

Check Out Our Latest Research Report on ATKR

About Atkore

(Free Report)

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.

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Institutional Ownership by Quarter for Atkore (NYSE:ATKR)

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