Atkore Inc. (NYSE:ATKR) Stock Holdings Decreased by Ritholtz Wealth Management

Posted by Defense World Staff on Mar 30th, 2023

Ritholtz Wealth Management reduced its position in Atkore Inc. (NYSE:ATKR – Get Rating) by 29.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,300 shares of the company’s stock after selling 1,383 shares during the period. Ritholtz Wealth Management’s holdings in Atkore were worth $374,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. HBK Sorce Advisory LLC purchased a new position in shares of Atkore in the third quarter worth approximately $26,000. Captrust Financial Advisors increased its position in shares of Atkore by 85.6% in the second quarter. Captrust Financial Advisors now owns 607 shares of the company’s stock worth $50,000 after acquiring an additional 280 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Atkore by 169.9% during the third 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 period. Ronald Blue Trust Inc. boosted its holdings in shares of Atkore by 183.8% during the fourth quarter. Ronald Blue Trust Inc. now owns 908 shares of the company’s stock worth $70,000 after purchasing an additional 588 shares during the period. Finally, Amundi boosted its holdings in shares of Atkore by 61.7% during the second quarter. Amundi now owns 1,145 shares of the company’s stock worth $94,000 after purchasing an additional 437 shares during the period.

Insider Activity

In other news, CFO David Paul Johnson sold 10,000 shares of Atkore stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $149.79, for a total value of $1,497,900.00. Following the transaction, the chief financial officer now owns 30,114 shares of the company’s stock, valued at $4,510,776.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO David Paul Johnson sold 10,000 shares of Atkore stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $149.79, for a total value of $1,497,900.00. Following the transaction, the chief financial officer now owns 30,114 shares of the company’s stock, valued at $4,510,776.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John W. Pregenzer sold 4,754 shares of Atkore stock in a transaction that occurred 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 transaction, the insider now directly owns 26,297 shares in the company, valued at approximately $3,944,550. The disclosure for this sale can be found here. Insiders have sold a total of 48,813 shares of company stock valued at $6,997,675 over the last 90 days. 2.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank of Canada raised their price target on shares of Atkore from $139.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. B. Riley raised 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. Loop Capital raised their price target on shares of Atkore from $150.00 to $170.00 in a report on Thursday, February 2nd. Citigroup raised their price target on shares of Atkore from $135.00 to $156.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Finally, StockNews.com initiated coverage on shares of Atkore in a report on Thursday, March 16th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $161.40.

Atkore Price Performance

NYSE ATKR opened at $137.23 on Thursday. The company has a quick ratio of 1.96, a current ratio of 2.96 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $5.42 billion, a PE ratio of 6.79 and a beta of 2.22. The company has a 50 day moving average price of $138.96 and a two-hundred day moving average price of $115.36. Atkore Inc. has a 12-month low of $70.50 and a 12-month high of $154.86.

Atkore (NYSE:ATKR – Get Rating) last posted its earnings results on Wednesday, February 1st. The company reported $4.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.71. The firm had revenue of $833.82 million during the quarter, compared to analysts’ expectations of $820.90 million. Atkore had a net margin of 22.58% and a return on equity of 76.09%. As a group, equities 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.