AIA Group Ltd Purchases 298 Shares of Atkore Inc. (NYSE:ATKR)

AIA Group Ltd boosted its position in shares of Atkore Inc. (NYSE:ATKR) by 10.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,132 shares of the company’s stock after acquiring an additional 298 shares during the quarter. AIA Group Ltd’s holdings in Atkore were worth $501,000 at the end of the most recent quarter.

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

Atkore Stock Up 0.3 %

NYSE:ATKR opened at $171.71 on Friday. Atkore Inc. has a 1-year low of $116.14 and a 1-year high of $194.98. The company has a 50-day moving average of $170.17 and a 200 day moving average of $152.17. The firm has a market cap of $6.31 billion, a PE ratio of 10.29 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 released its quarterly earnings results on Thursday, February 1st. The company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.08 by $1.04. The business had revenue of $798.50 million during the quarter, compared to analyst estimates of $777.05 million. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.51 earnings per share. As a group, research analysts anticipate that Atkore Inc. will post 15.06 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 annualized dividend and a dividend yield of 0.75%. Atkore’s dividend payout ratio (DPR) is currently 7.67%.

Wall Street Analysts Forecast Growth

ATKR has been the topic of several research analyst reports. StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Citigroup boosted their price objective on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $187.00 price objective on shares of Atkore in a research report on Friday, March 22nd.

Insider Activity

In other news, VP Daniel S. Kelly sold 8,685 shares of the company’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 owns 34,907 shares in the company, valued at $6,041,354.49. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Atkore news, VP Daniel S. Kelly sold 8,685 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 34,907 shares of the company’s stock, valued at approximately $6,041,354.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daniel S. Kelly sold 15,815 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $173.59, for a total transaction of $2,745,325.85. Following the transaction, the vice president now directly owns 34,907 shares of the company’s stock, valued at $6,059,506.13. The disclosure for this sale can be found here. Insiders have sold a total of 148,464 shares of company stock worth $25,124,751 over the last 90 days. 2.56% of the stock is currently owned by corporate insiders.

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.