Atkore Inc. (NYSE:ATKR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Atkore Inc. (NYSE:ATKRGet Rating) by 14.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 258,974 shares of the company’s stock after selling 44,531 shares during the period. Principal Financial Group Inc. owned approximately 0.63% of Atkore worth $21,497,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lazard Asset Management LLC boosted its position in shares of Atkore by 6.1% during the second quarter. Lazard Asset Management LLC now owns 444,926 shares of the company’s stock worth $36,932,000 after buying an additional 25,430 shares during the period. Duality Advisers LP acquired a new stake in Atkore in the second quarter worth approximately $353,000. Y Intercept Hong Kong Ltd acquired a new stake in Atkore in the second quarter worth approximately $747,000. Meeder Asset Management Inc. lifted its position in Atkore by 354.6% in the second quarter. Meeder Asset Management Inc. now owns 18,102 shares of the company’s stock worth $1,503,000 after purchasing an additional 14,120 shares during the period. Finally, MQS Management LLC acquired a new stake in Atkore in the second quarter worth approximately $223,000. 97.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ATKR shares. Royal Bank of Canada cut their target price on Atkore from $151.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, August 3rd. StockNews.com started coverage on Atkore in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Credit Suisse Group upped their target price on Atkore from $130.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. Loop Capital started coverage on Atkore in a report on Tuesday, October 18th. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Citigroup dropped their price target on Atkore from $97.00 to $94.00 in a report on Monday, October 10th.

Atkore Price Performance

NYSE ATKR opened at $116.00 on Monday. The stock has a market capitalization of $4.79 billion, a P/E ratio of 5.71 and a beta of 2.22. Atkore Inc. has a 1 year low of $70.50 and a 1 year high of $123.53. The business’s fifty day moving average is $88.61 and its two-hundred day moving average is $92.37. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.91 and a current ratio of 2.77.

Atkore Profile

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

Further Reading

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Institutional Ownership by Quarter for Atkore (NYSE:ATKR)

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