Cambridge Investment Research Advisors Inc. Makes New Investment in Atkore Inc. (NYSE:ATKR)

Cambridge Investment Research Advisors Inc. acquired a new position in shares of Atkore Inc. (NYSE:ATKR) during the 3rd quarter, Holdings Channel reports. The firm acquired 3,783 shares of the company’s stock, valued at approximately $329,000.

A number of other hedge funds have also bought and sold shares of the business. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in Atkore by 23.2% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 10,131 shares of the company’s stock worth $880,000 after purchasing an additional 1,911 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Atkore by 97.4% in the 3rd quarter. Nordea Investment Management AB now owns 260,564 shares of the company’s stock valued at $23,628,000 after acquiring an additional 128,577 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Atkore in the 3rd quarter valued at approximately $48,000. Ziegler Capital Management LLC increased its holdings in shares of Atkore by 120.2% in the 3rd quarter. Ziegler Capital Management LLC now owns 222,942 shares of the company’s stock valued at $19,378,000 after acquiring an additional 121,704 shares during the last quarter. Finally, Financial Counselors Inc. bought a new stake in shares of Atkore in the 3rd quarter valued at approximately $204,000. Institutional investors own 92.79% of the company’s stock.

NYSE:ATKR opened at $103.17 on Friday. Atkore Inc. has a 12-month low of $43.19 and a 12-month high of $118.49. The firm has a market capitalization of $4.78 billion, a P/E ratio of 8.44 and a beta of 2.42. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.71 and a quick ratio of 2.16. The business has a 50 day simple moving average of $108.02 and a 200 day simple moving average of $93.24.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Thursday, November 18th. The company reported $4.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.84 by $0.55. Atkore had a return on equity of 92.24% and a net margin of 20.08%. The business had revenue of $923.70 million during the quarter, compared to analyst estimates of $839.38 million. During the same quarter in the previous year, the firm posted $1.01 EPS. The business’s revenue for the quarter was up 93.5% compared to the same quarter last year.

In other Atkore news, insider Mark F. Lamps sold 320 shares of the business’s stock in a transaction on Tuesday, November 30th. The stock was sold at an average price of $108.12, for a total transaction of $34,598.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Leangela W. Lowe sold 6,300 shares of the business’s stock in a transaction on Friday, December 3rd. The stock was sold at an average price of $112.00, for a total value of $705,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,281 shares of company stock valued at $1,160,582 in the last 90 days. Insiders own 1.96% of the company’s stock.

A number of brokerages have recently weighed in on ATKR. Royal Bank of Canada boosted their price target on Atkore from $99.00 to $129.00 and gave the company an “outperform” rating in a report on Friday, November 19th. They noted that the move was a valuation call. Citigroup boosted their price target on Atkore from $102.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, November 19th. Finally, Credit Suisse Group boosted their price target on Atkore from $107.00 to $121.00 and gave the company an “outperform” rating in a report on Friday, November 19th.

About Atkore

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.

Read More: Economic Bubble

Want to see what other hedge funds are holding ATKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atkore Inc. (NYSE:ATKR).

Institutional Ownership by Quarter for Atkore (NYSE:ATKR)

Receive News & Ratings for Atkore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atkore and related companies with MarketBeat.com's FREE daily email newsletter.