Peterson Wealth Services Acquires Shares of 1,347 Atkore Inc. (NYSE:ATKR)

Peterson Wealth Services bought a new position in shares of Atkore Inc. (NYSE:ATKR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,347 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Orion Capital Management LLC bought a new position in shares of Atkore during the third quarter valued at approximately $30,000. Quarry LP raised its stake in Atkore by 72.4% during the 2nd quarter. Quarry LP now owns 200 shares of the company’s stock valued at $31,000 after purchasing an additional 84 shares during the period. Anchor Investment Management LLC acquired a new stake in Atkore during the 4th quarter valued at $32,000. Captrust Financial Advisors raised its stake in Atkore by 85.6% during the 2nd quarter. Captrust Financial Advisors now owns 607 shares of the company’s stock valued at $50,000 after purchasing an additional 280 shares during the period. Finally, Point72 Middle East FZE acquired a new position in shares of Atkore in the fourth quarter worth $51,000.

Atkore Trading Up 1.8 %

NYSE ATKR traded up $3.14 on Thursday, hitting $173.26. The company’s stock had a trading volume of 28,500 shares, compared to its average volume of 449,698. The company’s 50-day moving average is $169.26 and its 200 day moving average is $151.85. 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 1-year low of $116.14 and a 1-year high of $194.98. The firm has a market cap of $6.37 billion, a PE ratio of 10.20 and a beta of 2.19.

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

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Monday, February 26th. Atkore’s dividend payout ratio (DPR) is presently 7.67%.

Insiders Place Their Bets

In other news, VP Daniel S. Kelly sold 8,685 shares of Atkore stock in a transaction dated Friday, March 1st. The shares were 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 approximately $6,041,354.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Daniel S. Kelly sold 8,685 shares of Atkore stock in a transaction dated Friday, March 1st. The shares were 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 directly owns 34,907 shares of the company’s stock, valued at approximately $6,041,354.49. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Leangela W. Lowe sold 6,500 shares of Atkore stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the completion of the transaction, the vice president now directly owns 25,590 shares of the company’s stock, valued at $4,505,631.30. The disclosure for this sale can be found here. Insiders have sold a total of 148,464 shares of company stock valued at $25,124,751 in the last quarter. Insiders own 2.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ATKR shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $187.00 price objective on shares of Atkore in a report on Friday, March 22nd. StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Citigroup raised their price target on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a 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.