Envestnet Asset Management Inc. Purchases 31,500 Shares of Atkore Inc. (NYSE:ATKR)

Envestnet Asset Management Inc. raised its position in shares of Atkore Inc. (NYSE:ATKR – Get Rating) by 62.0% during the 4th quarter, Holdings Channel reports. The fund owned 82,285 shares of the company’s stock after purchasing an additional 31,500 shares during the period. Envestnet Asset Management Inc.’s holdings in Atkore were worth $9,333,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. River Road Asset Management LLC lifted its position in Atkore by 19.3% in the third quarter. River Road Asset Management LLC now owns 1,151,419 shares of the company’s stock worth $89,592,000 after buying an additional 186,123 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Atkore by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,000,991 shares of the company’s stock valued at $77,886,000 after purchasing an additional 25,060 shares during the period. State Street Corp boosted its position in Atkore by 2.2% in the 1st quarter. State Street Corp now owns 950,244 shares of the company’s stock valued at $93,542,000 after buying an additional 20,685 shares during the period. Invesco Ltd. increased its position in shares of Atkore by 17.8% during the first quarter. Invesco Ltd. now owns 713,859 shares of the company’s stock worth $70,272,000 after acquiring an additional 108,075 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Atkore by 5.3% in the first quarter. Federated Hermes Inc. now owns 706,986 shares of the company’s stock valued at $69,596,000 after purchasing an additional 35,688 shares during the period.

Atkore Stock Performance

Shares of ATKR stock opened at $121.98 on Friday. Atkore Inc. has a 12 month low of $70.50 and a 12 month high of $154.86. The company has a current ratio of 2.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.60. The company has a market cap of $4.82 billion, a P/E ratio of 6.04 and a beta of 2.17. The firm has a fifty day moving average price of $133.32 and a 200 day moving average price of $125.07.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ATKR shares. Loop Capital upped their price objective on shares of Atkore from $150.00 to $170.00 in a research note on Thursday, February 2nd. Royal Bank of Canada raised their price objective on Atkore from $139.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. B. Riley raised their price target on shares of Atkore from $146.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. StockNews.com started coverage on shares of Atkore in a research note on Thursday, March 16th. They set a “buy” rating for the company. Finally, Citigroup boosted their target price on Atkore from $135.00 to $156.00 and gave the stock a “neutral” rating in a research note on Thursday, February 2nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Atkore currently has an average rating of “Moderate Buy” and an average target price of $161.40.

Insider Activity

In other Atkore news, CFO David Paul Johnson sold 10,000 shares of Atkore stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $149.79, for a total value of $1,497,900.00. Following the transaction, the chief financial officer now directly owns 30,114 shares in the company, valued at approximately $4,510,776.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO David Paul Johnson sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $149.79, for a total value of $1,497,900.00. Following the completion of the sale, the chief financial officer now directly owns 30,114 shares of the company’s stock, valued at approximately $4,510,776.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John W. Pregenzer sold 4,754 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $150.00, for a total transaction of $713,100.00. Following the sale, the insider now owns 26,297 shares in the company, valued at $3,944,550. The disclosure for this sale can be found here. Company insiders own 2.11% of the company’s stock.

About Atkore

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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.