Atkore Inc. (NYSE:ATKR) Stake Boosted by First Trust Advisors LP

Posted by on May 23rd, 2023

First Trust Advisors LP increased its position in shares of Atkore Inc. (NYSE:ATKR – Get Rating) by 13.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,822 shares of the company’s stock after purchasing an additional 16,164 shares during the quarter. First Trust Advisors LP owned 0.34% of Atkore worth $15,178,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC bought a new position in Atkore during the third quarter worth $26,000. Captrust Financial Advisors lifted its stake in Atkore by 85.6% during the second 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. lifted its stake in 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 last quarter. Ronald Blue Trust Inc. lifted its stake in 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 last quarter. Finally, Covestor Ltd lifted its stake in Atkore by 5,638.1% during the first quarter. Covestor Ltd now owns 1,205 shares of the company’s stock worth $119,000 after purchasing an additional 1,184 shares during the last quarter.

Insiders Place Their Bets

In other Atkore news, insider John W. Pregenzer sold 4,754 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $150.00, for a total transaction of $713,100.00. Following the transaction, the insider now owns 26,297 shares in the company, valued at approximately $3,944,550. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO David Paul Johnson sold 10,000 shares of Atkore stock in a transaction on Thursday, March 9th. The stock was 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 in the company, valued at approximately $4,510,776.06. The sale was disclosed in a 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 on Wednesday, March 1st. The shares were sold at an average price of $150.00, for a total value of $713,100.00. Following the completion of the transaction, the insider now owns 26,297 shares in the company, valued at approximately $3,944,550. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

Atkore Stock Performance

Shares of NYSE ATKR opened at $123.70 on Tuesday. The stock has a 50 day moving average price of $129.56 and a 200 day moving average price of $126.61. Atkore Inc. has a 52 week low of $70.50 and a 52 week high of $154.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.10 and a current ratio of 2.99. The stock has a market capitalization of $4.77 billion, a PE ratio of 6.37 and a beta of 2.17.

Atkore (NYSE:ATKR – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported $4.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.71 by $0.60. The company had revenue of $895.93 million during the quarter, compared to analysts’ expectations of $910.20 million. Atkore had a return on equity of 66.55% and a net margin of 21.54%. Analysts predict that Atkore Inc. will post 15.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup raised their price objective on Atkore from $135.00 to $156.00 and gave the stock a “neutral” rating in a research note on Thursday, February 2nd. B. Riley lifted their price target on Atkore from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. StockNews.com initiated coverage on Atkore in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Loop Capital boosted their price objective on Atkore from $150.00 to $170.00 in a research report on Thursday, February 2nd. Finally, Royal Bank of Canada boosted their price target on Atkore from $139.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.40.

Atkore 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.

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Institutional Ownership by Quarter for Atkore (NYSE:ATKR)

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