Atkore Inc. (NYSE:ATKR) Shares Sold by BlackRock Inc.

BlackRock Inc. cut its stake in Atkore Inc. (NYSE:ATKR – Get Rating) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,239,456 shares of the company’s stock after selling 95,219 shares during the quarter. BlackRock Inc. owned about 7.84% of Atkore worth $252,062,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ATKR. HBK Sorce Advisory LLC acquired a new stake in shares of Atkore during the 3rd quarter worth about $26,000. Captrust Financial Advisors increased its position in shares of Atkore by 85.6% during the 2nd quarter. Captrust Financial Advisors now owns 607 shares of the company’s stock worth $50,000 after purchasing an additional 280 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Atkore by 169.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 780 shares of the company’s stock worth $60,000 after purchasing an additional 491 shares during the last quarter. Amundi increased its position in shares of Atkore by 61.7% during the 2nd quarter. Amundi now owns 1,145 shares of the company’s stock worth $94,000 after purchasing an additional 437 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Atkore by 9.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,409 shares of the company’s stock worth $110,000 after purchasing an additional 126 shares during the last quarter.

Insider Buying and Selling

In other Atkore news, CEO William E. Jr. Waltz sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $140.26, for a total transaction of $4,207,800.00. Following the sale, the chief executive officer now directly owns 70,080 shares in the company, valued at $9,829,420.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO William E. Jr. Waltz sold 30,000 shares of the company’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $140.26, for a total value of $4,207,800.00. Following the sale, the chief executive officer now directly owns 70,080 shares in the company, valued at $9,829,420.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark F. Lamps sold 2,480 shares of the company’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $144.75, for a total value of $358,980.00. Following the completion of the sale, the insider now owns 23,305 shares in the company, valued at $3,373,398.75. The disclosure for this sale can be found here. Insiders have sold 48,813 shares of company stock valued at $6,997,675 over the last quarter. Company insiders own 2.11% of the company’s stock.

Analysts Set New Price Targets

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

Atkore Stock Performance

Shares of ATKR opened at $138.66 on Monday. The stock has a 50-day simple moving average of $134.89 and a 200-day simple moving average of $111.05. The stock has a market capitalization of $5.48 billion, a PE ratio of 6.86 and a beta of 2.22. Atkore Inc. has a 1 year low of $70.50 and a 1 year high of $154.86. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.96 and a current ratio of 2.96.

Atkore (NYSE:ATKR – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The company reported $4.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.71. The company had revenue of $833.82 million during the quarter, compared to analysts’ expectations of $820.90 million. Atkore had a return on equity of 76.09% and a net margin of 22.58%. On average, analysts predict that Atkore Inc. will post 15.12 earnings per share for the current fiscal year.

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.