Healthcare of Ontario Pension Plan Trust Fund increased its stake in Atkore Inc. (NYSE:ATKR – Free Report) by 99.7% during the 1st quarter, HoldingsChannel reports. The firm owned 125,800 shares of the company’s stock after buying an additional 62,800 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Atkore were worth $7,411,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in shares of Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after buying an additional 246 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Atkore by 15.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company’s stock worth $7,009,000 after purchasing an additional 16,028 shares during the last quarter. Intech Investment Management LLC boosted its position in Atkore by 59.7% in the first quarter. Intech Investment Management LLC now owns 29,363 shares of the company’s stock worth $1,761,000 after purchasing an additional 10,972 shares during the last quarter. Strs Ohio bought a new stake in shares of Atkore during the 1st quarter valued at about $36,000. Finally, Norges Bank bought a new stake in shares of Atkore during the 2nd quarter valued at about $467,000.
Atkore Trading Down 7.7%
Atkore stock opened at $71.49 on Thursday. Atkore Inc. has a 12-month low of $53.49 and a 12-month high of $90.16. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -19.97 and a beta of 1.68. The firm has a 50 day moving average of $77.16 and a 200 day moving average of $70.75. The company has a current ratio of 2.64, a quick ratio of 2.02 and a debt-to-equity ratio of 0.59.
Insiders Place Their Bets
In other Atkore news, Director Justin A. Kershaw sold 2,799 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $73.67, for a total transaction of $206,202.33. Following the sale, the director directly owned 18,610 shares of the company’s stock, valued at $1,370,998.70. This trade represents a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $73.61, for a total value of $242,839.39. Following the completion of the transaction, the director owned 17,063 shares in the company, valued at $1,256,007.43. The trade was a 16.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.10% of the company’s stock.
Analyst Upgrades and Downgrades
ATKR has been the topic of several recent research reports. Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research note on Thursday, July 16th. Weiss Ratings restated a “sell (d)” rating on shares of Atkore in a research report on Friday, May 1st. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Citigroup increased their price target on shares of Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $138.33.
View Our Latest Research Report on Atkore
Atkore Profile
Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.
Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.
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