First Trust Advisors LP lowered its position in Atkore Inc. (NYSE:ATKR – Get Rating) by 35.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 117,658 shares of the company’s stock after selling 65,037 shares during the period. First Trust Advisors LP owned 0.28% of Atkore worth $9,155,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in Atkore by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 196,818 shares of the company’s stock worth $15,315,000 after purchasing an additional 586 shares during the period. Capital Growth Management LP bought a new position in shares of Atkore in the 3rd quarter worth about $4,280,000. Clark Estates Inc. NY lifted its position in Atkore by 16.4% during the 3rd quarter. Clark Estates Inc. NY now owns 42,600 shares of the company’s stock valued at $3,315,000 after acquiring an additional 6,000 shares during the period. AlphaCrest Capital Management LLC lifted its position in Atkore by 32.4% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 8,673 shares of the company’s stock valued at $675,000 after acquiring an additional 2,121 shares during the period. Finally, Eaton Vance Management boosted its stake in Atkore by 2.7% during the third quarter. Eaton Vance Management now owns 15,027 shares of the company’s stock worth $1,169,000 after acquiring an additional 402 shares in the last quarter.
Analyst Ratings Changes
ATKR has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price target on Atkore from $139.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. B. Riley raised their price target on Atkore from $146.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Loop Capital lifted their price target on Atkore from $150.00 to $170.00 in a research report on Thursday, February 2nd. Finally, Citigroup increased their price objective on shares of Atkore from $135.00 to $156.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Atkore currently has an average rating of “Moderate Buy” and an average price target of $161.40.
Insider Activity at Atkore
In other Atkore news, CEO William E. Jr. Waltz sold 30,000 shares of Atkore stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $140.26, for a total value of $4,207,800.00. Following the completion of the sale, the chief executive officer now owns 70,080 shares of the company’s stock, valued at approximately $9,829,420.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Mark F. Lamps sold 2,480 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $144.75, for a total value of $358,980.00. Following the transaction, the insider now owns 23,305 shares in the company, valued at approximately $3,373,398.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William E. Jr. Waltz sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $140.26, for a total transaction of $4,207,800.00. Following the completion of the transaction, the chief executive officer now directly owns 70,080 shares in the company, valued at approximately $9,829,420.80. The disclosure for this sale can be found here. Insiders have sold a total of 48,813 shares of company stock worth $6,997,675 over the last quarter. Company insiders own 2.11% of the company’s stock.
Atkore Trading Down 5.1 %
Shares of NYSE:ATKR opened at $138.66 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.96 and a quick ratio of 1.96. Atkore Inc. has a 1 year low of $70.50 and a 1 year high of $154.86. The company has a market cap of $5.48 billion, a P/E ratio of 6.86 and a beta of 2.22. The stock’s fifty day moving average price is $134.89 and its 200-day moving average price is $111.05.
Atkore (NYSE:ATKR – Get Rating) last issued its earnings results on Wednesday, February 1st. The company reported $4.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.71. The business had revenue of $833.82 million during the quarter, compared to analyst estimates of $820.90 million. Atkore had a return on equity of 76.09% and a net margin of 22.58%. Sell-side analysts expect that Atkore Inc. will post 15.12 earnings per share for the current year.
About Atkore
Atkore, Inc engages in the manufacture of electrical raceway products. It operates through the Electrical, and Safety and Infrastructure segments. The Electrical segment produces products used in the construction of electrical power systems such as conduit, cable, and installation accessories. The Safety and Infrastructure segment designs and creates solutions including metal framing, mechanical pipe, perimeter security, and cable management for the protection and reliability of critical infrastructure.
Further Reading
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