Atkore (NYSE:ATKR) Trading Down 4.9%

Atkore Inc. (NYSE:ATKRGet Rating) shares traded down 4.9% during trading on Tuesday . The company traded as low as $94.61 and last traded at $94.61. 242 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 364,384 shares. The stock had previously closed at $99.47.

Wall Street Analyst Weigh In

ATKR has been the subject of several research analyst reports. StockNews.com downgraded shares of Atkore from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 27th. Citigroup boosted their target price on shares of Atkore from $109.00 to $125.00 in a research report on Wednesday, May 4th. Credit Suisse Group upped their price objective on shares of Atkore from $130.00 to $143.00 and gave the stock a “maintains” rating in a research report on Wednesday. Finally, Royal Bank of Canada reiterated a “maintains” rating on shares of Atkore in a research report on Wednesday.

Atkore Stock Down 3.3 %

The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.35 and a current ratio of 3.25. The stock has a market capitalization of $3.90 billion, a P/E ratio of 5.23 and a beta of 2.27. The stock’s fifty day simple moving average is $94.32 and its two-hundred day simple moving average is $99.14.

Atkore (NYSE:ATKRGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $6.07 EPS for the quarter, beating analysts’ consensus estimates of $5.22 by $0.85. Atkore had a net margin of 22.67% and a return on equity of 93.07%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $3.96 EPS. The company’s quarterly revenue was up 24.4% on a year-over-year basis.

Insider Activity

In other news, CEO William E. Jr. Waltz sold 20,000 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $118.65, for a total value of $2,373,000.00. Following the sale, the chief executive officer now directly owns 39,017 shares of the company’s stock, valued at approximately $4,629,367.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO William E. Jr. Waltz sold 20,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 39,017 shares in the company, valued at approximately $4,629,367.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark F. Lamps sold 845 shares of the business’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $113.64, for a total transaction of $96,025.80. Following the transaction, the insider now owns 21,007 shares in the company, valued at approximately $2,387,235.48. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ATKR. Capital Research Global Investors acquired a new position in shares of Atkore during the 1st quarter valued at $42,940,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Atkore by 1,349.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 445,467 shares of the company’s stock worth $43,852,000 after buying an additional 414,743 shares during the last quarter. Geode Capital Management LLC raised its holdings in Atkore by 33.3% during the fourth quarter. Geode Capital Management LLC now owns 1,160,104 shares of the company’s stock worth $128,991,000 after buying an additional 289,843 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Atkore by 30.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,139,450 shares of the company’s stock worth $94,585,000 after buying an additional 266,924 shares during the last quarter. Finally, River Road Asset Management LLC raised its holdings in Atkore by 20.3% during the second quarter. River Road Asset Management LLC now owns 965,296 shares of the company’s stock worth $80,129,000 after buying an additional 162,961 shares during the last quarter. Institutional investors and hedge funds own 94.87% of the company’s stock.

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.

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