Duality Advisers LP Boosts Stake in Atkore Inc. (NYSE:ATKR)

Duality Advisers LP raised its position in Atkore Inc. (NYSE:ATKR) by 8.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,850 shares of the company’s stock after purchasing an additional 304 shares during the quarter. Duality Advisers LP’s holdings in Atkore were worth $616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC raised its position in Atkore by 69.8% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 32,239 shares of the company’s stock worth $5,158,000 after purchasing an additional 13,253 shares during the period. AIA Group Ltd increased its position in shares of Atkore by 10.5% during the fourth quarter. AIA Group Ltd now owns 3,132 shares of the company’s stock worth $501,000 after acquiring an additional 298 shares during the period. Peterson Wealth Services purchased a new position in shares of Atkore during the fourth quarter worth approximately $216,000. Roman Butler Fullerton & Co. increased its position in shares of Atkore by 3.2% during the fourth quarter. Roman Butler Fullerton & Co. now owns 2,755 shares of the company’s stock worth $422,000 after acquiring an additional 85 shares during the period. Finally, River Road Asset Management LLC increased its position in shares of Atkore by 14.1% during the fourth quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock worth $201,646,000 after acquiring an additional 155,508 shares during the period.

Insider Buying and Selling at Atkore

In other Atkore news, 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 value of $6,912,194.56. Following the completion of the sale, the chief executive officer now directly owns 83,716 shares in the company, valued at $13,434,743.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Atkore news, CEO William E. Jr. Waltz sold 50,000 shares of the firm’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 value of $8,692,500.00. Following the completion of the sale, the chief executive officer now directly owns 83,716 shares in the company, valued at $14,554,026.60. The sale was disclosed in a legal filing with the SEC, which is available 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 of the company’s stock, valued at $13,434,743.68. The disclosure for this sale can be found here. Insiders sold a total of 148,464 shares of company stock worth $25,124,751 over the last three months. Corporate insiders own 2.56% of the company’s stock.

Atkore Stock Performance

Shares of ATKR stock opened at $181.14 on Friday. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 10.86 and a beta of 2.19. The company’s 50 day moving average is $172.72 and its 200 day moving average is $153.15. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51. Atkore Inc. has a 52-week low of $116.14 and a 52-week high of $194.98.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Thursday, February 1st. The company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $1.04. The company had revenue of $798.50 million for the quarter, compared to analyst estimates of $777.05 million. Atkore had a net margin of 18.80% and a return on equity of 46.79%. Atkore’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $4.51 earnings per share. On average, sell-side analysts anticipate that Atkore Inc. will post 15.06 EPS for the current fiscal year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Monday, February 26th. Atkore’s payout ratio is 7.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ATKR. StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Royal Bank of Canada reaffirmed 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 target price on shares of Atkore from $176.00 to $200.00 and gave the stock a “neutral” rating in a research report 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.