Jupiter Asset Management Ltd. Reduces Position in Atkore Inc. (NYSE:ATKR)

Jupiter Asset Management Ltd. cut its holdings in shares of Atkore Inc. (NYSE:ATKR) by 18.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,095 shares of the company’s stock after selling 13,074 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.15% of Atkore worth $9,055,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Spire Wealth Management boosted its position in Atkore by 25.0% in the first quarter. Spire Wealth Management now owns 400 shares of the company’s stock worth $56,000 after purchasing an additional 80 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its position in Atkore by 3.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,531 shares of the company’s stock worth $287,000 after purchasing an additional 81 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Atkore by 2.0% in the first quarter. Commonwealth Equity Services LLC now owns 4,656 shares of the company’s stock worth $654,000 after purchasing an additional 91 shares during the last quarter. AE Wealth Management LLC boosted its position in Atkore by 7.0% in the second quarter. AE Wealth Management LLC now owns 1,763 shares of the company’s stock worth $275,000 after purchasing an additional 115 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Atkore by 5.7% in the first quarter. Public Employees Retirement System of Ohio now owns 2,260 shares of the company’s stock worth $317,000 after purchasing an additional 122 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ATKR. Royal Bank of Canada raised their price objective on Atkore from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. B. Riley raised their price objective on Atkore from $161.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Citigroup raised their price objective on Atkore from $159.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Finally, StockNews.com began coverage on Atkore in a research note on Thursday, October 5th. They issued a “buy” rating on the stock.

Atkore Stock Down 2.8 %

Shares of ATKR opened at $131.41 on Friday. The business’s 50 day moving average is $138.07 and its 200 day moving average is $141.09. The company has a market capitalization of $4.97 billion, a PE ratio of 6.98 and a beta of 2.14. Atkore Inc. has a 12-month low of $109.54 and a 12-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.

Atkore (NYSE:ATKR) last issued its earnings results on Friday, November 17th. The company reported $4.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.51. The company had revenue of $870.00 million for the quarter, compared to the consensus estimate of $910.40 million. Atkore had a return on equity of 59.21% and a net margin of 20.93%. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the company earned $5.18 EPS. 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.