Cerity Partners LLC Buys 1,347 Shares of Atkore Inc. (NYSE:ATKR)

Cerity Partners LLC grew its stake in Atkore Inc. (NYSE:ATKR) by 28.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,015 shares of the company’s stock after acquiring an additional 1,347 shares during the period. Cerity Partners LLC’s holdings in Atkore were worth $962,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Teza Capital Management LLC grew its holdings in Atkore by 9.2% during the 3rd quarter. Teza Capital Management LLC now owns 1,446 shares of the company’s stock worth $216,000 after acquiring an additional 122 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Atkore by 2.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 629,420 shares of the company’s stock worth $100,707,000 after buying an additional 12,189 shares during the period. New York Life Investment Management LLC bought a new stake in shares of Atkore in the 3rd quarter valued at about $594,000. Cambria Investment Management L.P. raised its position in shares of Atkore by 7.2% in the 3rd quarter. Cambria Investment Management L.P. now owns 69,971 shares of the company’s stock valued at $10,439,000 after acquiring an additional 4,711 shares during the period. Finally, PFG Advisors boosted its stake in Atkore by 5.9% during the 4th quarter. PFG Advisors now owns 2,641 shares of the company’s stock worth $423,000 after acquiring an additional 146 shares during the last quarter.

Atkore Stock Performance

Shares of ATKR stock opened at $173.55 on Tuesday. The stock has a market cap of $6.38 billion, a P/E ratio of 10.40 and a beta of 2.19. The company has a fifty day moving average price of $170.64 and a two-hundred day moving average price of $152.52. Atkore Inc. has a one year low of $116.14 and a one year high of $194.98. 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 issued its earnings results on Thursday, February 1st. The company reported $4.12 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 previous year, the company posted $4.51 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities analysts predict that Atkore Inc. will post 15.06 EPS for the current year.

Atkore Announces Dividend

The business also recently announced 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. This represents a $1.28 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Monday, February 26th. Atkore’s payout ratio is 7.67%.

Insider Activity

In related news, VP Leangela W. Lowe sold 6,500 shares of the firm’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 transaction, the vice president now owns 25,590 shares in the company, valued at $4,505,631.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of the 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 completion of the transaction, the chief executive officer now directly owns 83,716 shares in the company, valued at $13,434,743.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Leangela W. Lowe sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $176.07, for a total value of $1,144,455.00. Following the completion of the transaction, the vice president now directly owns 25,590 shares of the company’s stock, valued at approximately $4,505,631.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,464 shares of company stock valued at $25,124,751. 2.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.