Spire Wealth Management Grows Position in Atkore Inc. (NYSE:ATKR)

Spire Wealth Management increased its holdings in shares of Atkore Inc. (NYSE:ATKR) by 15.5% during the 4th quarter, HoldingsChannel reports. The fund owned 33,162 shares of the company’s stock after buying an additional 4,461 shares during the period. Spire Wealth Management’s holdings in Atkore were worth $5,075,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners increased its position in Atkore by 149.7% in the third quarter. Boston Partners now owns 601,910 shares of the company’s stock worth $88,670,000 after buying an additional 360,837 shares in the last quarter. River Road Asset Management LLC lifted its holdings in Atkore by 14.1% during the fourth 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 in the last quarter. Clearbridge Investments LLC boosted its position in shares of Atkore by 78.4% in 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 period. Charles Schwab Investment Management Inc. increased its stake in shares of 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 in the last quarter. Finally, Invesco Ltd. raised its position in shares of Atkore by 13.8% during the 3rd quarter. Invesco Ltd. now owns 818,309 shares of the company’s stock valued at $122,084,000 after purchasing an additional 99,345 shares during the period.

Insider Activity

In related news, Director Justin A. Kershaw sold 1,099 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $171.77, for a total transaction of $188,775.23. Following the transaction, the director now directly owns 16,686 shares of the company’s stock, valued at approximately $2,866,154.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO William E. Jr. Waltz sold 43,072 shares of the company’s stock in a transaction on 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 owns 83,716 shares of the company’s stock, valued at approximately $13,434,743.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Justin A. Kershaw sold 1,099 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.77, for a total value of $188,775.23. Following the transaction, the director now owns 16,686 shares of the company’s stock, valued at $2,866,154.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,464 shares of company stock worth $25,124,751. Insiders own 2.56% of the company’s stock.

Wall Street Analyst Weigh In

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

Atkore Trading Up 0.1 %

ATKR stock traded up $0.15 during mid-day trading on Monday, reaching $176.40. The company had a trading volume of 465,302 shares, compared to its average volume of 456,247. Atkore Inc. has a 12 month low of $116.14 and a 12 month high of $194.98. The company has a market capitalization of $6.49 billion, a PE ratio of 10.57 and a beta of 2.19. The firm has a 50 day moving average of $176.60 and a 200 day moving average of $154.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99.

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

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Monday, May 20th. Atkore’s payout ratio is presently 7.67%.

Atkore Company 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.