Ausbil Investment Management Ltd Sells 1,725 Shares of Atkore Inc. (NYSE:ATKR)

Ausbil Investment Management Ltd cut its stake in shares of Atkore Inc. (NYSE:ATKR) by 8.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,346 shares of the company’s stock after selling 1,725 shares during the quarter. Atkore makes up 1.9% of Ausbil Investment Management Ltd’s portfolio, making the stock its 15th largest holding. Ausbil Investment Management Ltd owned about 0.05% of Atkore worth $3,017,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ATKR. Norges Bank bought a new stake in Atkore during the 4th quarter worth approximately $59,906,000. Capital Research Global Investors bought a new stake in shares of Atkore during the first quarter worth $42,940,000. Envestnet Asset Management Inc. increased its stake in shares of Atkore by 487.6% in the first quarter. Envestnet Asset Management Inc. now owns 483,540 shares of the company’s stock valued at $11,726,000 after buying an additional 401,255 shares in the last quarter. GW&K Investment Management LLC raised its holdings in shares of Atkore by 156.2% in the fourth quarter. GW&K Investment Management LLC now owns 647,776 shares of the company’s stock valued at $73,471,000 after buying an additional 394,908 shares during the last quarter. Finally, Boston Partners acquired a new position in Atkore during the 1st quarter worth about $29,730,000.

Atkore Stock Up 2.2 %

Shares of NYSE ATKR traded up $3.29 during mid-day trading on Monday, reaching $150.93. 104,631 shares of the company’s stock were exchanged, compared to its average volume of 428,584. Atkore Inc. has a twelve month low of $70.50 and a twelve month high of $164.76. The company has a current ratio of 2.85, a quick ratio of 1.95 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 7.84 and a beta of 2.20. The business has a fifty day simple moving average of $151.93 and a 200 day simple moving average of $140.45.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $5.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.27 by $1.45. The company had revenue of $919.10 million during the quarter, compared to the consensus estimate of $929.45 million. Atkore had a net margin of 20.93% and a return on equity of 59.21%. The firm’s revenue was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.74 earnings per share. As a group, equities analysts expect that Atkore Inc. will post 17.33 EPS for the current fiscal year.

Insider Transactions at Atkore

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

Analyst Ratings Changes

ATKR has been the subject of several research analyst reports. B. Riley boosted their price objective on shares of Atkore from $161.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Citigroup raised their price target on Atkore from $159.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. Royal Bank of Canada boosted their price objective on Atkore from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Finally, StockNews.com initiated coverage on shares of Atkore in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $176.25.

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.