Swiss National Bank Grows Holdings in Atkore Inc. (NYSE:ATKR)

Swiss National Bank raised its position in Atkore Inc. (NYSE:ATKR) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,100 shares of the company’s stock after purchasing an additional 400 shares during the period. Swiss National Bank owned about 0.22% of Atkore worth $13,426,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ATKR. Norges Bank purchased a new position in Atkore in the 4th quarter valued at about $59,906,000. Capital Research Global Investors purchased a new position in shares of Atkore during the 1st quarter worth about $42,940,000. Envestnet Asset Management Inc. lifted its holdings in shares of Atkore by 487.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 483,540 shares of the company’s stock worth $11,726,000 after acquiring an additional 401,255 shares during the period. Boston Partners purchased a new position in shares of Atkore during the 1st quarter worth about $29,730,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Atkore by 58.7% during the 1st quarter. Victory Capital Management Inc. now owns 444,805 shares of the company’s stock worth $62,486,000 after acquiring an additional 164,539 shares during the period.

Atkore Trading Down 0.9 %

NYSE ATKR opened at $130.20 on Tuesday. Atkore Inc. has a one year low of $111.90 and a one year high of $164.76. The company’s 50 day moving average price is $137.65 and its 200 day moving average price is $141.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.95 and a current ratio of 2.85. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 6.92 and a beta of 2.14.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Friday, November 17th. The company reported $4.21 EPS for the quarter, beating the consensus estimate of $3.70 by $0.51. Atkore had a net margin of 20.93% and a return on equity of 59.21%. The firm had revenue of $870.00 million for the quarter, compared to analyst estimates of $910.40 million. During the same quarter last year, the firm posted $5.18 earnings per share. Atkore’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, sell-side analysts predict that Atkore Inc. will post 17.33 EPS for the current year.

Wall Street Analysts Forecast Growth

ATKR has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of Atkore in a report on Thursday, October 5th. They set a “buy” rating on the stock. Citigroup increased their price objective on shares of Atkore from $159.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. B. Riley raised their price target on shares of Atkore from $161.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Finally, Royal Bank of Canada raised their price target on shares of Atkore from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th.

About Atkore

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.