River Road Asset Management LLC Acquires 155,508 Shares of Atkore Inc. (NYSE:ATKR)

River Road Asset Management LLC boosted its holdings in Atkore Inc. (NYSE:ATKR) by 14.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,260,290 shares of the company’s stock after buying an additional 155,508 shares during the period. Atkore makes up about 2.8% of River Road Asset Management LLC’s investment portfolio, making the stock its 3rd biggest position. River Road Asset Management LLC’s holdings in Atkore were worth $201,646,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its holdings in Atkore by 289.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,458 shares of the company’s stock worth $1,620,000 after purchasing an additional 12,234 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Atkore by 108.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,604 shares of the company’s stock worth $945,000 after purchasing an additional 4,989 shares during the period. HighTower Advisors LLC raised its holdings in Atkore by 2.5% in the first quarter. HighTower Advisors LLC now owns 16,070 shares of the company’s stock worth $1,582,000 after purchasing an additional 388 shares during the period. Cetera Advisor Networks LLC acquired a new stake in Atkore in the first quarter worth $223,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Atkore by 12.2% during the first quarter. PNC Financial Services Group Inc. now owns 9,464 shares of the company’s stock worth $931,000 after acquiring an additional 1,031 shares in the last quarter.

Analyst Ratings Changes

ATKR has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $187.00 price objective on shares of Atkore in a research report on Friday, March 22nd. Citigroup increased their price objective on shares of Atkore from $176.00 to $200.00 and gave the stock a “neutral” rating in a research report 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.

Atkore Stock Down 1.2 %

ATKR stock traded down $2.03 during midday trading on Wednesday, hitting $170.12. The company’s stock had a trading volume of 445,542 shares, compared to its average volume of 454,535. 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 Inc. has a twelve month low of $116.14 and a twelve month high of $194.98. The company’s fifty day moving average price is $168.77 and its 200 day moving average price is $151.72. The stock has a market capitalization of $6.26 billion, a P/E ratio of 10.32 and a beta of 2.19.

Atkore (NYSE:ATKR) last issued its quarterly earnings results 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 net margin of 18.80% and a return on equity of 46.79%. The firm had revenue of $798.50 million for the quarter, compared to analyst estimates of $777.05 million. During the same period in the previous year, the business earned $4.51 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Atkore Inc. will post 15.06 EPS for the current year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $1.28 annualized dividend and a yield of 0.75%. Atkore’s payout ratio is currently 7.67%.

Insider Transactions at Atkore

In other news, VP Daniel S. Kelly sold 8,685 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the transaction, the vice president now directly owns 34,907 shares in the company, valued at approximately $6,041,354.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Daniel S. Kelly sold 8,685 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the transaction, the vice president now directly owns 34,907 shares in the company, valued at approximately $6,041,354.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justin A. Kershaw sold 1,099 shares of the business’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 owns 16,686 shares in the company, valued at $2,866,154.22. The disclosure for this sale can be found here. Insiders have sold 148,464 shares of company stock worth $25,124,751 in the last ninety days. Insiders own 2.56% of the company’s stock.

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.