Shell Asset Management Co. Increases Position in Atkore Inc. (NYSE:ATKR)

Shell Asset Management Co. raised its position in Atkore Inc. (NYSE:ATKRGet Rating) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,415 shares of the company’s stock after purchasing an additional 368 shares during the quarter. Shell Asset Management Co.’s holdings in Atkore were worth $533,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. abrdn plc grew its stake in shares of Atkore by 1.9% in the first quarter. abrdn plc now owns 852,878 shares of the company’s stock worth $85,518,000 after acquiring an additional 15,971 shares in the last quarter. Seizert Capital Partners LLC grew its stake in shares of Atkore by 48.2% in the first quarter. Seizert Capital Partners LLC now owns 30,505 shares of the company’s stock worth $3,003,000 after acquiring an additional 9,928 shares in the last quarter. Calamos Advisors LLC grew its stake in shares of Atkore by 487.2% in the first quarter. Calamos Advisors LLC now owns 33,993 shares of the company’s stock worth $3,346,000 after acquiring an additional 28,204 shares in the last quarter. Jackson Creek Investment Advisors LLC grew its stake in shares of Atkore by 9.1% in the first quarter. Jackson Creek Investment Advisors LLC now owns 11,231 shares of the company’s stock worth $1,106,000 after acquiring an additional 940 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of Atkore by 51.3% in the first quarter. Mutual of America Capital Management LLC now owns 64,041 shares of the company’s stock worth $6,304,000 after acquiring an additional 21,716 shares in the last quarter. Hedge funds and other institutional investors own 94.87% of the company’s stock.

Insider Activity at Atkore

In related news, VP Leangela W. Lowe sold 9,373 shares of the business’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $114.10, for a total value of $1,069,459.30. Following the completion of the sale, the vice president now directly owns 20,713 shares of the company’s stock, valued at $2,363,353.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Leangela W. Lowe sold 9,373 shares of the company’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $114.10, for a total value of $1,069,459.30. Following the completion of the sale, the vice president now directly owns 20,713 shares of the company’s stock, valued at $2,363,353.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark F. Lamps sold 845 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $113.64, for a total transaction of $96,025.80. Following the completion of the sale, the insider now directly owns 21,007 shares of the company’s stock, valued at $2,387,235.48. The disclosure for this sale can be found here. Insiders sold a total of 30,218 shares of company stock valued at $3,538,485 over the last ninety days. Insiders own 1.96% of the company’s stock.

Atkore Price Performance

Shares of ATKR opened at $93.62 on Wednesday. Atkore Inc. has a 1-year low of $74.14 and a 1-year high of $123.53. The stock has a market cap of $4.04 billion, a PE ratio of 5.41 and a beta of 2.27. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.25 and a quick ratio of 2.35. The firm has a fifty day moving average price of $94.53 and a 200 day moving average price of $99.20.

Atkore (NYSE:ATKRGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $5.08 earnings per share for the quarter. Atkore had a net margin of 22.67% and a return on equity of 93.07%. The firm had revenue of $982.57 million during the quarter, compared to analysts’ expectations of $800.90 million. During the same period in the previous year, the company earned $2.79 earnings per share. Atkore’s quarterly revenue was up 53.6% compared to the same quarter last year.

Analyst Upgrades and Downgrades

ATKR has been the subject of several research reports. Citigroup boosted their price target on shares of Atkore from $109.00 to $125.00 in a research note on Wednesday, May 4th. Royal Bank of Canada boosted their target price on shares of Atkore from $123.00 to $170.00 in a research note on Wednesday, May 4th. Credit Suisse Group set a $130.00 target price on shares of Atkore in a research note on Tuesday, July 19th. Finally, StockNews.com downgraded shares of Atkore from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 27th.

About Atkore

(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.

See Also

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Institutional Ownership by Quarter for Atkore (NYSE:ATKR)

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