PFG Advisors raised its stake in Atkore Inc. (NYSE:ATKR – Free Report) by 15.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,264 shares of the company’s stock after acquiring an additional 309 shares during the quarter. PFG Advisors’ holdings in Atkore were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the business. Steph & Co. purchased a new stake in shares of Atkore during the 1st quarter valued at approximately $70,000. Ronald Blue Trust Inc. lifted its stake in shares of Atkore by 57.6% during the 1st quarter. Ronald Blue Trust Inc. now owns 1,431 shares of the company’s stock valued at $162,000 after buying an additional 523 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of Atkore during the 1st quarter valued at approximately $232,000. Raymond James & Associates lifted its stake in shares of Atkore by 2.0% during the 1st quarter. Raymond James & Associates now owns 154,944 shares of the company’s stock valued at $21,767,000 after buying an additional 2,992 shares in the last quarter. Finally, Phocas Financial Corp. lifted its stake in shares of Atkore by 1.0% during the 1st quarter. Phocas Financial Corp. now owns 73,394 shares of the company’s stock valued at $10,310,000 after buying an additional 717 shares in the last quarter. 98.69% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, StockNews.com started coverage on shares of Atkore in a research note on Thursday, May 18th. They set a “buy” rating on the stock. One equities 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.40.
Insider Buying and Selling
Atkore Stock Performance
Atkore stock opened at $147.55 on Friday. The firm’s 50 day simple moving average is $133.78 and its 200 day simple moving average is $132.50. The company has a current ratio of 2.99, a quick ratio of 2.10 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $5.69 billion, a PE ratio of 7.59 and a beta of 2.22. Atkore Inc. has a 1-year low of $70.50 and a 1-year high of $157.45.
Atkore (NYSE:ATKR – Free Report) last posted its earnings results on Tuesday, May 9th. The company reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.71 by $0.60. The business had revenue of $895.93 million for the quarter, compared to analyst estimates of $910.20 million. Atkore had a net margin of 21.54% and a return on equity of 66.55%. As a group, analysts expect that Atkore Inc. will post 16.04 earnings per share for the current fiscal year.
Atkore Profile
Atkore Inc engages in the manufacture and sale of electrical, safety, and infrastructure products in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures safety and infrastructure solutions, such as metal framing, mechanical pipe, perimeter security, and cable management.
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