Gotham Asset Management LLC Purchases 5,975 Shares of Atkore Inc. (NYSE:ATKR)

Gotham Asset Management LLC lifted its position in Atkore Inc. (NYSE:ATKRGet Rating) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,890 shares of the company’s stock after acquiring an additional 5,975 shares during the quarter. Gotham Asset Management LLC owned 0.08% of Atkore worth $3,991,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ATKR. HighTower Advisors LLC grew its stake in Atkore by 25.4% in the fourth quarter. HighTower Advisors LLC now owns 15,682 shares of the company’s stock valued at $1,744,000 after purchasing an additional 3,178 shares during the last quarter. Barclays PLC grew its stake in Atkore by 58.4% in the third quarter. Barclays PLC now owns 43,316 shares of the company’s stock valued at $3,764,000 after purchasing an additional 15,978 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Atkore by 252.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 32,512 shares of the company’s stock valued at $3,615,000 after purchasing an additional 23,293 shares during the last quarter. Allianz Asset Management GmbH grew its stake in Atkore by 19.9% in the fourth quarter. Allianz Asset Management GmbH now owns 251,245 shares of the company’s stock valued at $27,936,000 after purchasing an additional 41,629 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Atkore by 27.7% in the fourth quarter. Raymond James & Associates now owns 107,424 shares of the company’s stock valued at $11,944,000 after purchasing an additional 23,294 shares during the last quarter. Hedge funds and other institutional investors own 94.87% of the company’s stock.

In other Atkore news, VP Daniel S. Kelly sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $103.00, for a total value of $309,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Leangela W. Lowe sold 9,373 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $114.10, for a total value of $1,069,459.30. Following the completion of the transaction, the vice president now directly owns 20,713 shares of the company’s stock, valued at $2,363,353.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,470 shares of company stock worth $2,735,983. 1.96% of the stock is owned by insiders.

ATKR has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on Atkore from $123.00 to $170.00 in a research note on Wednesday, May 4th. Credit Suisse Group boosted their price target on Atkore from $123.00 to $138.00 in a research note on Wednesday, May 4th. StockNews.com upgraded Atkore from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Citigroup boosted their price target on Atkore from $109.00 to $125.00 in a research note on Wednesday, May 4th.

Shares of NYSE ATKR opened at $97.74 on Wednesday. The business’s 50 day moving average price is $100.84 and its 200 day moving average price is $103.92. The firm has a market cap of $4.21 billion, a P/E ratio of 5.65 and a beta of 2.23. Atkore Inc. has a 52 week low of $65.80 and a 52 week high of $119.96. The company has a quick ratio of 2.35, a current ratio of 3.25 and a debt-to-equity ratio of 0.74.

Atkore (NYSE:ATKRGet Rating) last issued its earnings results on Tuesday, May 3rd. The company reported $5.39 EPS for the quarter, beating analysts’ consensus estimates of $3.75 by $1.64. The firm had revenue of $982.57 million for the quarter, compared to analyst estimates of $800.90 million. Atkore had a return on equity of 93.07% and a net margin of 22.67%. Atkore’s revenue for the quarter was up 53.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.79 earnings per share.

About Atkore (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Atkore (NYSE:ATKR)

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