Opinicus Capital Inc. Increases Stock Holdings in Atkore Inc. (NYSE:ATKR)

Opinicus Capital Inc. lifted its stake in shares of Atkore Inc. (NYSE:ATKR) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,263 shares of the company’s stock after acquiring an additional 118 shares during the period. Opinicus Capital Inc.’s holdings in Atkore were worth $621,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of Atkore by 26.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 119,047 shares of the company’s stock valued at $17,761,000 after purchasing an additional 25,040 shares in the last quarter. Mariner LLC lifted its stake in shares of Atkore by 7.3% in the 3rd quarter. Mariner LLC now owns 5,776 shares of the company’s stock valued at $862,000 after purchasing an additional 393 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Atkore by 26.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 23,254 shares of the company’s stock valued at $3,469,000 after purchasing an additional 4,857 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Atkore by 96.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 52,522 shares of the company’s stock valued at $7,836,000 after purchasing an additional 25,793 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Atkore by 135.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,497 shares of the company’s stock valued at $373,000 after purchasing an additional 1,437 shares in the last quarter.

Atkore Stock Up 1.8 %

ATKR stock traded up $2.40 during midday trading on Friday, hitting $134.93. 869,346 shares of the company’s stock were exchanged, compared to its average volume of 597,317. The company has a current ratio of 3.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.49. Atkore Inc. has a 12-month low of $121.00 and a 12-month high of $194.98. The firm has a 50 day moving average price of $153.15 and a 200-day moving average price of $159.24. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 8.42 and a beta of 2.16.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Monday, May 6th. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.86. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The company had revenue of $792.90 million for the quarter, compared to the consensus estimate of $808.22 million. During the same period in the previous year, the business earned $4.31 EPS. Atkore’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, analysts anticipate that Atkore Inc. will post 14.93 EPS for the current year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were given a $0.32 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.28 annualized dividend and a dividend yield of 0.95%. Atkore’s payout ratio is 7.98%.

Insider Transactions at Atkore

In other news, Director Wilbert W. James, Jr. sold 599 shares of Atkore stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total value of $91,784.77. Following the completion of the transaction, the director now owns 15,695 shares in the company, valued at approximately $2,404,944.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Wilbert W. James, Jr. sold 599 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total transaction of $91,784.77. Following the completion of the transaction, the director now owns 15,695 shares in the company, valued at approximately $2,404,944.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $157.67, for a total value of $78,835.00. Following the transaction, the insider now owns 28,586 shares of the company’s stock, valued at approximately $4,507,154.62. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ATKR. Citigroup reduced their price objective on Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. StockNews.com downgraded Atkore from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $187.00 target price on shares of Atkore in a report on Friday, March 22nd.

Atkore 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.