Insider Selling: Atkore Inc. (NYSE:ATKR) CEO Sells 20,000 Shares of Stock

Posted by on Jun 7th, 2022

Atkore Inc. (NYSE:ATKR – Get Rating) CEO William E. Jr. Waltz sold 20,000 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $118.65, for a total transaction of $2,373,000.00. Following the completion of the sale, the chief executive officer now directly owns 39,017 shares of the company’s stock, valued at $4,629,367.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of NYSE ATKR traded up $6.03 during trading hours on Monday, hitting $122.84. 813,366 shares of the stock were exchanged, compared to its average volume of 498,979. The company has a quick ratio of 2.35, a current ratio of 3.25 and a debt-to-equity ratio of 0.74. The company has a market cap of $5.30 billion, a PE ratio of 7.10 and a beta of 2.22. The firm has a fifty day moving average price of $101.45 and a 200-day moving average price of $104.18. Atkore Inc. has a 12 month low of $65.80 and a 12 month high of $123.53.

Atkore (NYSE:ATKR – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $5.39 EPS for the quarter, topping the consensus estimate of $3.75 by $1.64. The firm had revenue of $982.57 million during the quarter, compared to analyst estimates of $800.90 million. Atkore had a net margin of 22.67% and a return on equity of 93.07%. Atkore’s revenue was up 53.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.79 EPS.

Large investors have recently added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in shares of Atkore by 3,104.6% in the 2nd quarter. Morgan Stanley now owns 300,240 shares of the company’s stock valued at $21,317,000 after acquiring an additional 290,871 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in Atkore by 22.2% during the third quarter. Advisor Group Holdings Inc. now owns 3,435 shares of the company’s stock worth $298,000 after buying an additional 623 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in Atkore by 1.7% during the third quarter. First Republic Investment Management Inc. now owns 7,672 shares of the company’s stock worth $667,000 after buying an additional 129 shares in the last quarter. Credit Suisse AG boosted its holdings in Atkore by 9.1% during the third quarter. Credit Suisse AG now owns 40,033 shares of the company’s stock worth $3,480,000 after buying an additional 3,324 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Atkore by 1.0% during the third quarter. Arizona State Retirement System now owns 12,798 shares of the company’s stock worth $1,112,000 after buying an additional 124 shares in the last quarter. 94.87% of the stock is currently owned by institutional investors.

Several equities research analysts have issued reports on ATKR shares. StockNews.com raised shares of Atkore from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 21st. Royal Bank of Canada boosted their price target on shares of Atkore from $123.00 to $170.00 in a report on Wednesday, May 4th. Citigroup boosted their price target on shares of Atkore from $109.00 to $125.00 in a report on Wednesday, May 4th. Finally, Credit Suisse Group boosted their price target on shares of Atkore from $123.00 to $138.00 in a report on Wednesday, May 4th.

Atkore Company Profile (Get Rating)

Atkore Inc manufactures and sells electrical, safety, and infrastructure products in the United States and internationally. The company offers electrical products, including conduits cables, and installation accessories. It also provides safety and infrastructure solutions, such as metal framing, mechanical pipe, perimeter security, and cable management.

Further Reading

Insider Buying and Selling by Quarter for Atkore (NYSE:ATKR)

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