On Tuesday, November 22nd, Mark F. Lamps, an insider at Atkore Inc. (NYSE: ATKR), sold 433 Atkore stock. At an average price of $118.40 per share, the stock was sold for a total of $51,267.20. The insider now owns 26,179 shares, valued at $3,099,593.60, as a result of the sale. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed by clicking on the link below.
Several large investors have recently increased or decreased their stakes in ATKR. Trust Financial Corp. increased its stake in Atkore by 91.2% during the first quarter. Trust Financial Corp now owns 4,821 shares, valued at $475,000, after purchasing an additional 2,299 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in Atkore for $92,000 during the first quarter. Steward Partners Investment Advisory LLC increased its stake in Atkore by 67.8% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,056 shares of the company’s stock, valued at $202,000, after purchasing 831 more shares in the last quarter. In the first quarter, Shell Asset Management Co. increased its holdings of Atkore stock by 7.3%. Shell Asset Management Co. now owns 5,415 shares, valued at $533,000, after purchasing 368 additional shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Atkore by 29.9% in the first quarter. Following purchasing an additional 11,523 shares in the last quarter, Envestnet Asset Management Inc. now owns 50,093 shares of the company’s stock, valued at $4,931,000. Hedge funds and other institutional investors own 97.39% of the company’s stock.
The NYSE ATKR fell $2.66 to $119.00 in midday trading on Wednesday, with 475,662 shares traded, compared to its average volume of 482,041. The fifty-day moving average of the stock is $89.98, and the 200-day moving average is $92.44. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 5.97, and a beta of 2.22. Atkore Inc.’s 52-week low is $70.50, and its 52-week high is $123.53. The current ratio is 2.89, the quick ratio is 1.91, and the debt-to-equity ratio is 0.61.
Several equity research analysts have recently made public comments about the company. Royal Bank of Canada raised their price target on Atkore from $110.00 to $136.00 in a research report issued on Monday and assigned the stock an “outperform” rating. StockNews.com began coverage of Atkore in a research report on Wednesday, October 12th. They advised that the stock be bought. In a research report released on Monday, Citigroup raised their price target on Atkore from $94.00 to $117.00 and assigned the company a “neutral” rating. Credit Suisse Group raised their price target on Atkore from $130.00 to $143.00 in a research report issued on Wednesday, August 3rd, and assigned the company an “outperform” rating. Finally, on October 18th, Loop Capital published a research report on Atkore. They gave the stock a “buy” rating and a $110.00 price target. One research analyst advises holding the stock, while four advise purchasing it. Atkore currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.50, according to Bloomberg data.
Atkore Inc. manufactures and sells electrical, safety, and infrastructure products in the United States and internationally. The company sells electrical products such as conduits, cables, and installation accessories. Metal framing, mechanical pipe, perimeter security, and cable management are also included.