Opinicus Capital Inc. Makes New Investment in Atkore Inc. (NYSE:ATKR)

Opinicus Capital Inc. bought a new position in Atkore Inc. (NYSE:ATKR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,145 shares of the company’s stock, valued at approximately $503,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Teza Capital Management LLC grew its stake in shares of Atkore by 9.2% in the third quarter. Teza Capital Management LLC now owns 1,446 shares of the company’s stock worth $216,000 after purchasing an additional 122 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Atkore by 2.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 629,420 shares of the company’s stock worth $100,707,000 after purchasing an additional 12,189 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Atkore by 3.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 564,384 shares of the company’s stock worth $90,301,000 after purchasing an additional 19,876 shares in the last quarter. New York Life Investment Management LLC bought a new position in shares of Atkore in the third quarter worth $594,000. Finally, Cambria Investment Management L.P. grew its stake in shares of Atkore by 7.2% in the third quarter. Cambria Investment Management L.P. now owns 69,971 shares of the company’s stock worth $10,439,000 after purchasing an additional 4,711 shares in the last quarter.

Insider Buying and Selling

In related news, Director Justin A. Kershaw sold 1,099 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $171.77, for a total value of $188,775.23. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Justin A. Kershaw sold 1,099 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $171.77, for a total value of $188,775.23. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider John W. Pregenzer sold 6,548 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $158.49, for a total value of $1,037,792.52. Following the completion of the sale, the insider now directly owns 30,430 shares of the company’s stock, valued at $4,822,850.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,464 shares of company stock valued at $25,124,751. Corporate insiders own 2.56% of the company’s stock.

Atkore Price Performance

ATKR stock traded up $1.78 during trading hours on Friday, hitting $182.99. 256,834 shares of the stock traded hands, compared to its average volume of 512,445. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51. Atkore Inc. has a one year low of $116.14 and a one year high of $194.98. The company has a market cap of $6.73 billion, a P/E ratio of 10.97 and a beta of 2.19. The stock has a 50-day simple moving average of $173.49 and a 200 day simple moving average of $153.41.

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

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.70%. Atkore’s dividend payout ratio (DPR) is 7.67%.

Analyst Ratings Changes

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

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.