HighTower Advisors LLC Boosts Holdings in Atkore Inc. (NYSE:ATKR)

HighTower Advisors LLC boosted its position in Atkore Inc. (NYSE:ATKR – Get Rating) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,825 shares of the company’s stock after purchasing an additional 652 shares during the quarter. HighTower Advisors LLC’s holdings in Atkore were worth $4,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV increased its holdings in shares of Atkore by 6.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 14,568 shares of the company’s stock worth $1,652,000 after buying an additional 860 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Atkore by 26.5% in the 4th quarter. Raymond James & Associates now owns 151,952 shares of the company’s stock worth $17,234,000 after buying an additional 31,837 shares during the last quarter. FORA Capital LLC bought a new position in shares of Atkore in the 4th quarter worth $911,000. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Atkore by 121.2% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 213,700 shares of the company’s stock worth $24,238,000 after buying an additional 117,100 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Atkore in the 4th quarter worth $274,000.

Atkore Price Performance

Shares of Atkore stock opened at $122.44 on Friday. The firm has a market cap of $4.72 billion, a PE ratio of 6.30 and a beta of 2.17. Atkore Inc. has a 12-month low of $70.50 and a 12-month high of $154.86. The company has a quick ratio of 2.10, a current ratio of 2.99 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $129.56 and its two-hundred day simple moving average is $126.18.

Atkore (NYSE:ATKR – Get Rating) last announced its quarterly earnings results on Tuesday, May 9th. The company reported $4.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.71 by $0.60. The business had revenue of $895.93 million for the quarter, compared to analyst estimates of $910.20 million. Atkore had a net margin of 21.54% and a return on equity of 66.55%. As a group, equities analysts expect that Atkore Inc. will post 15.12 EPS for the current year.

Wall Street Analysts Forecast Growth

ATKR has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price target on shares of Atkore from $139.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. StockNews.com initiated coverage on shares of Atkore in a report on Thursday. They set a “buy” rating on the stock. Loop Capital increased their target price on shares of Atkore from $150.00 to $170.00 in a report on Thursday, February 2nd. B. Riley increased their target price on shares of Atkore from $146.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Finally, Citigroup increased their target price on shares of Atkore from $135.00 to $156.00 and gave the company a “neutral” rating in a report on Thursday, February 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $161.40.

Insiders Place Their Bets

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

Atkore Company Profile

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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.