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

Wedge Capital Management L L P NC lifted its stake in shares of Atkore Inc. (NYSE:ATKR) by 14.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,068 shares of the company’s stock after purchasing an additional 15,686 shares during the period. Wedge Capital Management L L P NC owned about 0.33% of Atkore worth $19,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. River Road Asset Management LLC raised its stake in Atkore by 14.1% in 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 purchasing an additional 155,508 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Atkore by 0.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,126,630 shares of the company’s stock worth $168,082,000 after buying an additional 7,574 shares in the last quarter. Invesco Ltd. boosted its position in Atkore by 13.8% during the third quarter. Invesco Ltd. now owns 818,309 shares of the company’s stock worth $122,084,000 after acquiring an additional 99,345 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Atkore by 2.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 629,420 shares of the company’s stock valued at $100,707,000 after acquiring an additional 12,189 shares in the last quarter. Finally, Boston Partners raised its holdings in Atkore by 149.7% in the 3rd quarter. Boston Partners now owns 601,910 shares of the company’s stock valued at $88,670,000 after acquiring an additional 360,837 shares during the last quarter.

Insider Transactions at Atkore

In related news, CEO William E. Jr. Waltz sold 43,072 shares of Atkore 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 owns 83,716 shares in the company, valued at approximately $13,434,743.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction of $1,037,792.52. Following the sale, the insider now owns 30,430 shares of the company’s stock, valued at $4,822,850.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at approximately $13,434,743.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,464 shares of company stock worth $25,124,751. 2.56% of the stock is currently owned by insiders.

Atkore Trading Up 0.5 %

Shares of Atkore stock opened at $174.35 on Tuesday. The stock has a 50 day moving average of $170.64 and a 200 day moving average of $152.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.99 and a current ratio of 2.96. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 10.40 and a beta of 2.19. Atkore Inc. has a fifty-two week low of $116.14 and a fifty-two week high of $194.98.

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

Atkore Announces Dividend

The business 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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Monday, February 26th. Atkore’s dividend payout ratio (DPR) is 7.67%.

Analysts Set New Price Targets

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

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.