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Russell Investments Group Ltd. Has $13.09 Million Position in Atkore Inc. (NYSE:ATKR)

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Russell Investments Group Ltd. reduced its stake in shares of Atkore Inc. (NYSE:ATKRGet Rating) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,990 shares of the company’s stock after selling 9,102 shares during the quarter. Russell Investments Group Ltd. owned about 0.30% of Atkore worth $13,088,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Catalyst Capital Advisors LLC raised its holdings in shares of Atkore by 111.1% during the fourth quarter. Catalyst Capital Advisors LLC now owns 266 shares of the company’s stock worth $30,000 after acquiring an additional 140 shares during the period. Northern Oak Wealth Management Inc. acquired a new stake in shares of Atkore during the fourth quarter worth $33,000. Ellevest Inc. raised its holdings in shares of Atkore by 54.7% during the first quarter. Ellevest Inc. now owns 376 shares of the company’s stock worth $37,000 after acquiring an additional 133 shares during the period. Private Capital Group LLC raised its holdings in shares of Atkore by 706.3% during the first quarter. Private Capital Group LLC now owns 508 shares of the company’s stock worth $50,000 after acquiring an additional 445 shares during the period. Finally, Prospera Financial Services Inc acquired a new stake in shares of Atkore during the first quarter worth $63,000. 94.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ATKR shares. Citigroup lifted their price target on shares of Atkore from $109.00 to $125.00 in a research note on Wednesday, May 4th. StockNews.com lowered shares of Atkore from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 27th. Royal Bank of Canada lowered their price target on shares of Atkore from $151.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Credit Suisse Group lifted their price objective on shares of Atkore from $130.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday.

Atkore Stock Performance

Shares of ATKR opened at $90.05 on Friday. The firm has a 50-day moving average of $94.04 and a 200-day moving average of $99.05. Atkore Inc. has a one year low of $80.04 and a one year high of $123.53. The company has a market cap of $3.72 billion, a PE ratio of 4.64 and a beta of 2.27. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.77 and a quick ratio of 2.35.

Atkore (NYSE:ATKRGet Rating) last announced its earnings results on Tuesday, August 2nd. The company reported $6.07 EPS for the quarter, topping the consensus estimate of $5.22 by $0.85. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.01 billion. Atkore had a net margin of 23.50% and a return on equity of 90.18%. Atkore’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.96 EPS.

Insider Buying and Selling

In related news, CEO William E. Jr. Waltz sold 20,000 shares of Atkore stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $118.65, for a total transaction of $2,373,000.00. Following the completion of the sale, the chief executive officer now owns 39,017 shares of the company’s stock, valued at approximately $4,629,367.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.96% of the stock is currently owned by insiders.

Atkore Company Profile

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Atkore Inc manufactures and sells electrical, safety, and infrastructure products in the United States and internationally. The company offers electrical products, including conduits cables, and installation accessories. It also provides safety and infrastructure solutions, such as metal framing, mechanical pipe, perimeter security, and cable management.

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