SummerHaven Investment Management LLC Purchases 69 Shares of Atkore Inc. (NYSE:ATKR)

SummerHaven Investment Management LLC increased its position in shares of Atkore Inc. (NYSE:ATKR) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,782 shares of the company’s stock after acquiring an additional 69 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Atkore were worth $765,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in Atkore in the fourth quarter valued at about $26,000. Orion Capital Management LLC acquired a new position in shares of Atkore during the third quarter valued at about $30,000. Anchor Investment Management LLC purchased a new position in shares of Atkore in the 4th quarter valued at approximately $32,000. NBC Securities Inc. purchased a new position in shares of Atkore in the 3rd quarter valued at approximately $54,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Atkore in the 4th quarter worth approximately $72,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $187.00 price target on shares of Atkore in a report on Friday, March 22nd. StockNews.com upgraded Atkore from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Citigroup boosted their price target on Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, April 8th.

Atkore Stock Performance

ATKR opened at $183.09 on Tuesday. The firm has a 50 day moving average of $174.26 and a two-hundred day moving average of $153.78. The firm has a market capitalization of $6.73 billion, a PE ratio of 10.98 and a beta of 2.19. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51. Atkore Inc. has a 12-month low of $116.14 and a 12-month high of $194.98.

Atkore (NYSE:ATKR) last posted its earnings results on Thursday, February 1st. The company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $1.04. The company had revenue of $798.50 million during the quarter, compared to the consensus estimate of $777.05 million. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.51 earnings per share. On average, analysts anticipate that Atkore Inc. will post 15.06 EPS for the current year.

Insider Transactions at Atkore

In related news, CEO William E. Jr. Waltz sold 43,072 shares of Atkore stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $160.48, for a total transaction of $6,912,194.56. Following the completion of the transaction, the chief executive officer now directly owns 83,716 shares in the company, valued at $13,434,743.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO William E. Jr. Waltz sold 43,072 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $160.48, for a total transaction of $6,912,194.56. Following the sale, the chief executive officer now owns 83,716 shares in the company, valued at $13,434,743.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Leangela W. Lowe sold 6,500 shares of Atkore stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the completion of the transaction, the vice president now directly owns 25,590 shares of the company’s stock, valued at approximately $4,505,631.30. The disclosure for this sale can be found here. Insiders have sold 148,464 shares of company stock worth $25,124,751 over the last quarter. 2.56% of the stock is currently owned by insiders.

Atkore Profile

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.