Wedge Capital Management L L P NC Raises Stock Holdings in Atkore Inc. (NYSE:ATKR)

Wedge Capital Management L L P NC boosted its holdings in shares of Atkore Inc. (NYSE:ATKR) by 14.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,068 shares of the company’s stock after purchasing an additional 15,686 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Atkore were worth $19,531,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Boston Partners lifted its holdings in Atkore by 149.7% during the 3rd quarter. Boston Partners now owns 601,910 shares of the company’s stock worth $88,670,000 after buying an additional 360,837 shares during the last quarter. River Road Asset Management LLC raised its position in shares of Atkore by 14.1% during the 4th quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock valued at $201,646,000 after acquiring an additional 155,508 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Atkore by 78.4% during the third quarter. Clearbridge Investments LLC now owns 278,691 shares of the company’s stock worth $41,578,000 after purchasing an additional 122,516 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Atkore by 25.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 540,973 shares of the company’s stock worth $80,708,000 after purchasing an additional 111,115 shares during the period. Finally, Invesco Ltd. boosted its holdings in Atkore by 13.8% in the third quarter. Invesco Ltd. now owns 818,309 shares of the company’s stock worth $122,084,000 after purchasing an additional 99,345 shares during the period.

Insider Activity

In related news, insider John W. Pregenzer sold 6,548 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $158.49, for a total value of $1,037,792.52. Following the completion of the transaction, the insider now owns 30,430 shares in the company, valued at approximately $4,822,850.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Atkore news, insider John W. Pregenzer sold 6,548 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $158.49, for a total transaction of $1,037,792.52. Following the completion of the transaction, the insider now directly owns 30,430 shares of the company’s stock, valued at approximately $4,822,850.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Leangela W. Lowe sold 6,500 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $176.07, for a total value of $1,144,455.00. Following the completion of the sale, the vice president now directly owns 25,590 shares in the company, valued at approximately $4,505,631.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,464 shares of company stock valued at $25,124,751. Company insiders own 2.56% of the company’s stock.

Atkore Trading Up 0.5 %

Atkore stock opened at $174.35 on Tuesday. Atkore Inc. has a 52-week low of $116.14 and a 52-week high of $194.98. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 10.40 and a beta of 2.19. The firm has a 50-day moving average price of $170.64 and a two-hundred day moving average price of $152.52.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Thursday, February 1st. The company reported $4.12 earnings per share 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 for the quarter, compared to analysts’ expectations of $777.05 million. During the same quarter in the previous year, the company posted $4.51 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. Sell-side analysts expect that Atkore Inc. will post 15.06 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were paid a $0.32 dividend. The ex-dividend date was Monday, February 26th. This represents a $1.28 annualized dividend and a dividend yield of 0.73%. Atkore’s payout ratio is 7.67%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ATKR shares. Citigroup raised their target price on shares of Atkore from $176.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. StockNews.com raised Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $187.00 price objective on shares of Atkore in a research note on Friday, March 22nd.

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.