Creative Planning Increases Stock Position in Atkore Inc. (NYSE:ATKR)

Creative Planning boosted its holdings in shares of Atkore Inc. (NYSE:ATKR) by 37.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,658 shares of the company’s stock after buying an additional 2,073 shares during the quarter. Creative Planning’s holdings in Atkore were worth $649,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Wedge Capital Management L L P NC boosted its holdings in shares of Atkore by 53.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 160,117 shares of the company’s stock valued at $13,568,000 after buying an additional 55,841 shares in the last quarter. Helen Stephens Group LLC purchased a new stake in Atkore during the third quarter valued at approximately $218,000. SG Americas Securities LLC boosted its stake in Atkore by 586.6% in the third quarter. SG Americas Securities LLC now owns 22,343 shares of the company’s stock valued at $1,893,000 after acquiring an additional 19,089 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Atkore in the second quarter valued at approximately $2,914,000. Finally, Sanctuary Advisors LLC purchased a new position in Atkore in the second quarter worth $1,339,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ATKR shares. B. Riley lowered their price objective on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Loop Capital lowered their price target on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, September 20th. KeyCorp cut their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Finally, Royal Bank of Canada lowered shares of Atkore from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.60.

Atkore Stock Performance

Shares of NYSE ATKR opened at $88.39 on Tuesday. Atkore Inc. has a 1 year low of $80.11 and a 1 year high of $194.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. The company’s fifty day moving average price is $86.69 and its 200 day moving average price is $120.85. The company has a market capitalization of $3.17 billion, a PE ratio of 6.21 and a beta of 2.13.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. The company had revenue of $822.40 million during the quarter, compared to analysts’ expectations of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. Atkore’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.13 EPS. On average, research analysts predict that Atkore Inc. will post 12.69 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the sale, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.56% of the stock is owned by insiders.

About Atkore

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.