Opinicus Capital Inc. Makes New $503,000 Investment in Atkore Inc. (NYSE:ATKR)

Opinicus Capital Inc. purchased a new stake in shares of Atkore Inc. (NYSE:ATKR) during the 4th quarter, Holdings Channel reports. The fund purchased 3,145 shares of the company’s stock, valued at approximately $503,000.

Several other large investors have also made changes to their positions in ATKR. Boston Partners lifted its stake in shares of Atkore by 149.7% during the third 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 period. River Road Asset Management LLC increased its holdings in Atkore by 14.1% in 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 during the last quarter. Clearbridge Investments LLC increased its holdings in Atkore by 78.4% in the third quarter. Clearbridge Investments LLC now owns 278,691 shares of the company’s stock valued at $41,578,000 after purchasing an additional 122,516 shares during the last quarter. Charles Schwab Investment Management Inc. increased 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 valued at $80,708,000 after purchasing an additional 111,115 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Atkore by 13.8% in the third 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 last quarter.

Insider Buying and Selling

In related news, VP Daniel S. Kelly sold 8,685 shares of the stock in a transaction dated Friday, March 1st. The stock was 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 in the company, valued at $6,041,354.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Daniel S. Kelly sold 8,685 shares of the stock in a transaction dated Friday, March 1st. The stock was 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 in the company, valued at $6,041,354.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William E. Jr. Waltz sold 43,072 shares of the 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 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. Over the last three months, insiders sold 148,464 shares of company stock worth $25,124,751. 2.56% of the stock is owned by corporate insiders.

Atkore Trading Up 1.0 %

Shares of Atkore stock traded up $1.78 during trading hours on Friday, hitting $182.99. The company’s stock had a trading volume of 256,834 shares, compared to its average volume of 512,445. Atkore Inc. has a 12 month low of $116.14 and a 12 month high of $194.98. The stock has a 50 day moving average of $173.49 and a 200 day moving average of $153.41. The company has a market capitalization of $6.73 billion, a PE ratio of 10.97 and a beta of 2.19. 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, topping 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 company had revenue of $798.50 million during the quarter, compared to the consensus estimate of $777.05 million. During the same period in the prior year, the company earned $4.51 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Analysts predict that Atkore Inc. will post 15.06 earnings per share for the current year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a dividend of $0.32 per share. The ex-dividend date was Monday, February 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.70%. Atkore’s payout ratio is presently 7.67%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ATKR. Citigroup upped their price objective on Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, April 8th. StockNews.com upgraded Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, 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.

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.