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

River Road Asset Management LLC increased its position in Atkore Inc. (NYSE:ATKR) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,260,290 shares of the company’s stock after acquiring 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 owned approximately 3.39% of Atkore worth $201,646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ATKR. Cornercap Investment Counsel Inc. grew its holdings in Atkore by 1.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 5,017 shares of the company’s stock valued at $803,000 after buying an additional 63 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Atkore by 3.5% during the fourth quarter. Ritholtz Wealth Management now owns 2,042 shares of the company’s stock worth $327,000 after purchasing an additional 69 shares during the last quarter. Riverwater Partners LLC boosted its holdings in shares of Atkore by 0.6% during the fourth quarter. Riverwater Partners LLC now owns 13,245 shares of the company’s stock worth $2,119,000 after purchasing an additional 78 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in shares of Atkore by 3.3% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,531 shares of the company’s stock worth $287,000 after purchasing an additional 81 shares during the last quarter. Finally, Navellier & Associates Inc. boosted its holdings in shares of Atkore by 0.7% during the third quarter. Navellier & Associates Inc. now owns 11,837 shares of the company’s stock worth $1,766,000 after purchasing an additional 83 shares during the last quarter.

Insider Activity

In other news, CEO William E. Jr. Waltz sold 43,072 shares of Atkore 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 sale, the chief executive officer now owns 83,716 shares of the company’s stock, valued at $13,434,743.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Atkore news, CEO William E. Jr. Waltz sold 50,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $173.85, for a total value of $8,692,500.00. Following the transaction, the chief executive officer now owns 83,716 shares of the company’s stock, valued at $14,554,026.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William E. Jr. Waltz sold 43,072 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 83,716 shares in the company, valued at approximately $13,434,743.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,464 shares of company stock valued at $25,124,751. Insiders own 2.56% of the company’s stock.

Atkore Stock Down 1.2 %

NYSE:ATKR traded down $2.03 during mid-day trading on Wednesday, reaching $170.12. The stock had a trading volume of 445,542 shares, compared to its average volume of 454,535. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 10.32 and a beta of 2.19. Atkore Inc. has a 1-year low of $116.14 and a 1-year high of $194.98. The stock’s 50 day simple moving average is $168.77 and its two-hundred day simple moving average is $151.72. 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 posted its quarterly earnings results on Thursday, February 1st. The company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $1.04. The business had revenue of $798.50 million during 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 company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned $4.51 earnings per share. Equities analysts anticipate that Atkore Inc. will post 15.06 EPS for the current year.

Atkore Dividend Announcement

The business also recently announced 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 was Monday, February 26th. This represents a $1.28 dividend on an annualized basis and a yield of 0.75%. Atkore’s payout ratio is currently 7.67%.

Wall Street Analysts Forecast Growth

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

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.