Chase Investment Counsel Corp Purchases 2,080 Shares of Atkore Inc. (NYSE:ATKR)

Chase Investment Counsel Corp boosted its position in shares of Atkore Inc. (NYSE:ATKR) by 42.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,000 shares of the company’s stock after buying an additional 2,080 shares during the period. Chase Investment Counsel Corp’s holdings in Atkore were worth $1,120,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ATKR. Cornercap Investment Counsel Inc. boosted its position in shares of Atkore by 1.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 5,017 shares of the company’s stock valued at $803,000 after acquiring an additional 63 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Atkore by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 2,042 shares of the company’s stock worth $327,000 after buying an additional 69 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of Atkore by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 4,782 shares of the company’s stock valued at $765,000 after buying an additional 69 shares in the last quarter. Riverwater Partners LLC lifted its holdings in shares of Atkore by 0.6% in the 4th quarter. Riverwater Partners LLC now owns 13,245 shares of the company’s stock valued at $2,119,000 after acquiring an additional 78 shares during the last quarter. Finally, Navellier & Associates Inc. grew its position in 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 acquiring an additional 83 shares in the last quarter.

Atkore Stock Up 0.4 %

ATKR traded up $0.80 on Monday, hitting $183.79. The company had a trading volume of 102,663 shares, compared to its average volume of 449,636. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 11.00 and a beta of 2.19. The stock has a fifty day moving average price of $173.49 and a 200-day moving average price of $153.50. 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 quick ratio of 1.99 and a current ratio of 2.96.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Thursday, February 1st. The company reported $4.12 earnings per share for the quarter, topping the consensus estimate of $3.08 by $1.04. The company had revenue of $798.50 million for the quarter, compared to the consensus estimate of $777.05 million. Atkore had a net margin of 18.80% and a return on equity of 46.79%. Atkore’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.51 EPS. Analysts predict that Atkore Inc. will post 15.06 EPS for the current fiscal 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 paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Monday, February 26th. Atkore’s dividend payout ratio (DPR) is 7.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ATKR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $187.00 price objective on shares of Atkore in a research note on Friday, March 22nd. StockNews.com upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, 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.

Insider Transactions at Atkore

In related news, insider John W. Pregenzer sold 6,548 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $158.49, for a total transaction of $1,037,792.52. Following the completion of the sale, the insider now directly owns 30,430 shares in the company, valued at $4,822,850.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other 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 transaction, the director now owns 16,686 shares in the company, valued at approximately $2,866,154.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John W. Pregenzer sold 6,548 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 30,430 shares of the company’s stock, valued at approximately $4,822,850.70. 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 in the last ninety days. Insiders own 2.56% of the company’s stock.

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.