Vontobel Holding Ltd. Increases Stock Position in Atkore Inc. (NYSE:ATKR)

Vontobel Holding Ltd. boosted its stake in Atkore Inc. (NYSE:ATKR) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,819 shares of the company’s stock after acquiring an additional 2,849 shares during the period. Vontobel Holding Ltd. owned about 0.06% of Atkore worth $3,811,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Orion Capital Management LLC purchased a new stake in shares of Atkore in the third quarter valued at about $30,000. Quarry LP raised its holdings in shares of Atkore by 72.4% in the second quarter. Quarry LP now owns 200 shares of the company’s stock valued at $31,000 after buying an additional 84 shares during the last quarter. Anchor Investment Management LLC purchased a new position in Atkore during the fourth quarter worth about $32,000. Captrust Financial Advisors raised its holdings in Atkore by 85.6% during the second quarter. Captrust Financial Advisors now owns 607 shares of the company’s stock worth $50,000 after purchasing an additional 280 shares in the last quarter. Finally, Point72 Middle East FZE purchased a new position in Atkore during the fourth quarter worth about $51,000.

Wall Street Analysts Forecast Growth

ATKR has been the subject of several analyst reports. StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Citigroup upped their target price 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, Royal Bank of Canada restated an “outperform” rating and set a $187.00 target price on shares of Atkore in a research report on Friday, March 22nd.

Insider Buying and Selling

In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of Atkore stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at approximately $13,434,743.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of Atkore stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at approximately $13,434,743.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Leangela W. Lowe sold 6,500 shares of Atkore stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the completion of the sale, the vice president now directly owns 25,590 shares of the company’s stock, valued at $4,505,631.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,464 shares of company stock worth $25,124,751. 2.56% of the stock is owned by insiders.

Atkore Stock Down 1.2 %

ATKR stock opened at $170.12 on Thursday. The company’s 50 day simple moving average is $169.26 and its 200-day simple moving average is $151.85. The firm has a market capitalization of $6.26 billion, a PE ratio of 10.20 and a beta of 2.19. Atkore Inc. has a 12 month low of $116.14 and a 12 month high of $194.98. 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 for 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 business earned $4.51 earnings per share. Equities analysts expect that Atkore Inc. will post 15.06 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 annualized dividend and a dividend yield of 0.75%. Atkore’s dividend payout ratio is presently 7.67%.

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.