Atkore Inc. (NYSE:ATKR) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its holdings in Atkore Inc. (NYSE:ATKR) by 29.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 465 shares of the company’s stock after selling 196 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Atkore were worth $39,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in shares of Atkore by 445.6% during the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after purchasing an additional 401 shares during the period. Quarry LP acquired a new stake in Atkore during the second quarter worth about $57,000. Mather Group LLC. lifted its holdings in Atkore by 895.7% in the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after acquiring an additional 421 shares during the last quarter. Headlands Technologies LLC lifted its holdings in Atkore by 829.9% in the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after acquiring an additional 805 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Atkore by 15.2% in the third quarter. Blue Trust Inc. now owns 2,397 shares of the company’s stock valued at $203,000 after acquiring an additional 316 shares during the period.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.56% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Atkore Stock Performance

Shares of ATKR stock opened at $95.31 on Friday. The business has a 50 day simple moving average of $87.04 and a 200 day simple moving average of $119.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 6.69 and a beta of 2.13. Atkore Inc. has a 12-month low of $80.11 and a 12-month high of $194.98.

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

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.