Tower Research Capital LLC TRC Grows Stock Position in Atkore Inc. (NYSE:ATKR)

Posted by Defense World Staff on Mar 6th, 2023

Tower Research Capital LLC TRC lifted its holdings in shares of Atkore Inc. (NYSE:ATKR – Get Rating) by 33.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,838 shares of the company’s stock after acquiring an additional 705 shares during the period. Tower Research Capital LLC TRC’s holdings in Atkore were worth $221,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Atkore by 289.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,458 shares of the company’s stock valued at $1,620,000 after purchasing an additional 12,234 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in Atkore by 108.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,604 shares of the company’s stock valued at $945,000 after acquiring an additional 4,989 shares during the period. HighTower Advisors LLC raised its holdings in shares of Atkore by 2.5% during the first quarter. HighTower Advisors LLC now owns 16,070 shares of the company’s stock worth $1,582,000 after purchasing an additional 388 shares during the last quarter. Cetera Advisor Networks LLC purchased a new stake in Atkore in the first quarter valued at $223,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Atkore by 12.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,464 shares of the company’s stock valued at $931,000 after buying an additional 1,031 shares during the last quarter.

Atkore Trading Up 0.7 %

Shares of Atkore stock opened at $153.01 on Monday. Atkore Inc. has a fifty-two week low of $70.50 and a fifty-two week 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. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 7.57 and a beta of 2.22. The stock has a 50 day moving average of $131.56 and a 200 day moving average of $109.03.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup lifted their price target on Atkore from $135.00 to $156.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Royal Bank of Canada raised their price objective on Atkore from $139.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. B. Riley boosted their price target on shares of Atkore from $146.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, February 2nd. Finally, Loop Capital upped their price target on shares of Atkore from $150.00 to $170.00 in a research report on Thursday, February 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.40.

Insider Buying and Selling at Atkore

In other news, CEO William E. Jr. Waltz sold 30,000 shares of Atkore stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 70,080 shares in the company, valued at approximately $9,829,420.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Atkore news, CEO William E. Jr. Waltz sold 30,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 70,080 shares of the company’s stock, valued at $9,829,420.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John W. Pregenzer sold 4,754 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $150.00, for a total transaction of $713,100.00. Following the completion of the sale, the insider now owns 26,297 shares of the company’s stock, valued at approximately $3,944,550. The disclosure for this sale can be found here. Insiders have sold a total of 38,813 shares of company stock valued at $5,499,775 over the last quarter. 2.11% of the stock is owned by company insiders.

About Atkore

(Get Rating)

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.