AIA Group Ltd Has $501,000 Stock Position in Atkore Inc. (NYSE:ATKR)

AIA Group Ltd grew its position in Atkore Inc. (NYSE:ATKR) by 10.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,132 shares of the company’s stock after buying an additional 298 shares during the period. AIA Group Ltd’s holdings in Atkore were worth $501,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. River Road Asset Management LLC lifted its position in Atkore by 14.1% in the 4th quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock valued at $201,646,000 after acquiring an additional 155,508 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Atkore by 0.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,126,630 shares of the company’s stock worth $168,082,000 after buying an additional 7,574 shares in the last quarter. State Street Corp lifted its position in Atkore by 2.2% during the 1st quarter. State Street Corp now owns 950,244 shares of the company’s stock worth $93,542,000 after buying an additional 20,685 shares in the last quarter. Invesco Ltd. lifted its position in Atkore by 13.8% during the 3rd quarter. Invesco Ltd. now owns 818,309 shares of the company’s stock worth $122,084,000 after buying an additional 99,345 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Atkore by 5.3% during the 1st quarter. Federated Hermes Inc. now owns 706,986 shares of the company’s stock worth $69,596,000 after buying an additional 35,688 shares in the last quarter.

Analysts Set New Price Targets

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

Atkore Stock Up 0.3 %

Shares of ATKR opened at $171.71 on Friday. Atkore Inc. has a 52 week low of $116.14 and a 52 week high of $194.98. The firm has a market cap of $6.31 billion, a P/E ratio of 10.29 and a beta of 2.19. The firm’s 50-day simple moving average is $170.17 and its 200 day simple moving average is $152.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.99 and a current ratio of 2.96.

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

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.32 per share. The ex-dividend date was Monday, February 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.75%. Atkore’s payout ratio is presently 7.67%.

Insider Transactions at Atkore

In other news, VP Daniel S. Kelly sold 8,685 shares of the company’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 sale, the vice president now owns 34,907 shares of the company’s stock, valued at approximately $6,041,354.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO William E. Jr. Waltz sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $173.85, for a total transaction of $8,692,500.00. Following the completion of the sale, the chief executive officer now owns 83,716 shares of the company’s stock, valued at approximately $14,554,026.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Daniel S. Kelly sold 8,685 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the sale, the vice president now directly owns 34,907 shares of the company’s stock, valued at approximately $6,041,354.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,464 shares of company stock valued at $25,124,751. Company insiders own 2.56% of the company’s stock.

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.