Atkore Inc. (NYSE:ATKR) Shares Bought by ACK Asset Management LLC

ACK Asset Management LLC grew its holdings in shares of Atkore Inc. (NYSE:ATKR) by 16.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 285,000 shares of the company’s stock after acquiring an additional 40,000 shares during the quarter. Atkore comprises approximately 6.1% of ACK Asset Management LLC’s holdings, making the stock its 8th largest position. ACK Asset Management LLC owned approximately 0.72% of Atkore worth $40,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Clearbridge Investments LLC bought a new stake in shares of Atkore in the 1st quarter worth $17,301,000. UBS Group AG raised its stake in shares of Atkore by 67.2% in the 1st quarter. UBS Group AG now owns 53,955 shares of the company’s stock worth $7,580,000 after buying an additional 21,694 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Atkore by 43.5% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 24,394 shares of the company’s stock worth $3,427,000 after buying an additional 7,400 shares in the last quarter. Prudential PLC raised its stake in shares of Atkore by 7.6% in the 1st quarter. Prudential PLC now owns 9,752 shares of the company’s stock worth $1,370,000 after buying an additional 690 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Atkore by 213.0% in the 1st quarter. NewEdge Advisors LLC now owns 8,396 shares of the company’s stock worth $1,134,000 after buying an additional 5,714 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ATKR. Citigroup boosted their target price on Atkore from $159.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 9th. Royal Bank of Canada boosted their target price on Atkore from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. B. Riley boosted their target price on Atkore from $161.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, StockNews.com began coverage on Atkore in a research report on Thursday, August 17th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.25.

Insider Buying and Selling at Atkore

In other Atkore news, Director Scott H. Muse sold 1,211 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $150.00, for a total value of $181,650.00. Following the transaction, the director now owns 26,583 shares in the company, valued at $3,987,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Atkore news, VP Leangela W. Lowe sold 3,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $160.09, for a total value of $480,270.00. Following the transaction, the vice president now owns 25,585 shares in the company, valued at $4,095,902.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott H. Muse sold 1,211 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $150.00, for a total value of $181,650.00. Following the completion of the transaction, the director now owns 26,583 shares in the company, valued at approximately $3,987,450. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

Atkore Stock Up 2.6 %

NYSE:ATKR traded up $3.99 during trading hours on Friday, hitting $157.96. 291,540 shares of the company’s stock traded hands, compared to its average volume of 436,004. The firm has a market cap of $5.97 billion, a P/E ratio of 8.39 and a beta of 2.21. Atkore Inc. has a twelve month low of $70.50 and a twelve month high of $164.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.95 and a current ratio of 2.85. The stock’s fifty day moving average price is $151.96 and its two-hundred day moving average price is $140.07.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.27 by $1.45. The firm had revenue of $919.10 million for the quarter, compared to analyst estimates of $929.45 million. Atkore had a return on equity of 59.21% and a net margin of 20.93%. Atkore’s quarterly revenue was down 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned $5.74 earnings per share. On average, research analysts expect that Atkore Inc. will post 17.33 earnings per share for the current fiscal year.

Atkore Company Profile

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