Spire Wealth Management Acquires 4,461 Shares of Atkore Inc. (NYSE:ATKR)

Spire Wealth Management lifted its stake in shares of Atkore Inc. (NYSE:ATKR) by 15.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,162 shares of the company’s stock after acquiring an additional 4,461 shares during the period. Spire Wealth Management owned 0.09% of Atkore worth $5,075,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Cornercap Investment Counsel Inc. grew its stake in shares of Atkore by 1.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 5,017 shares of the company’s stock worth $803,000 after acquiring an additional 63 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Atkore by 3.5% during the fourth 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 last quarter. SummerHaven Investment Management LLC lifted its holdings in Atkore by 1.5% during the fourth quarter. SummerHaven Investment Management LLC now owns 4,782 shares of the company’s stock worth $765,000 after acquiring an additional 69 shares during the period. Riverwater Partners LLC raised 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. lifted its holdings in Atkore by 0.7% during the 3rd quarter. Navellier & Associates Inc. now owns 11,837 shares of the company’s stock worth $1,766,000 after purchasing an additional 83 shares in the last quarter.

Insider Activity

In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 83,716 shares in the company, valued at approximately $13,434,743.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider John W. Pregenzer sold 6,548 shares of the company’s 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 sale, the insider now owns 30,430 shares of the company’s stock, valued at $4,822,850.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William E. Jr. Waltz sold 43,072 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the transaction, the chief executive officer now directly 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 148,464 shares of company stock valued at $25,124,751 in the last quarter. 2.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Atkore Stock Up 0.1 %

Shares of Atkore stock traded up $0.15 during midday trading on Monday, hitting $176.40. The company had a trading volume of 465,302 shares, compared to its average volume of 456,247. 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 company has a 50 day moving average of $176.60 and a 200 day moving average of $154.88. Atkore Inc. has a 52-week low of $116.14 and a 52-week high of $194.98. The stock has a market capitalization of $6.49 billion, a P/E ratio of 10.57 and a beta of 2.19.

Atkore (NYSE:ATKR) last released 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. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The business had revenue of $798.50 million for the quarter, compared to analysts’ expectations of $777.05 million. During the same period in the prior year, the firm posted $4.51 EPS. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities analysts predict that Atkore Inc. will post 15.06 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, May 21st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Monday, May 20th. Atkore’s dividend payout ratio is currently 7.67%.

Atkore Profile

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.