106,084 Shares of Atkore Inc. $ATKR Acquired by Transmarket Holdings LP

Transmarket Holdings LP purchased a new stake in shares of Atkore Inc. (NYSE:ATKR) during the third quarter, Holdings Channel reports. The fund purchased 106,084 shares of the company’s stock, valued at approximately $10,051,000. Atkore accounts for approximately 5.6% of Transmarket Holdings LP’s investment portfolio, making the stock its 4th largest holding.

A number of other hedge funds have also recently made changes to their positions in the company. Oslo Pensjonsforsikring AS bought a new position in Atkore in the 1st quarter valued at approximately $22,209,000. Hsbc Holdings PLC acquired a new stake in Atkore during the 1st quarter worth approximately $1,092,000. Engineers Gate Manager LP boosted its position in Atkore by 723.5% during the 2nd quarter. Engineers Gate Manager LP now owns 57,071 shares of the company’s stock worth $4,340,000 after buying an additional 50,141 shares during the period. Old West Investment Management LLC bought a new stake in Atkore during the 2nd quarter worth approximately $1,729,000. Finally, Bank of America Corp DE bought a new stake in Atkore during the 2nd quarter worth approximately $33,367,000.

Insider Buying and Selling at Atkore

In related news, insider Mark Lamps sold 300 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $93.75, for a total value of $28,125.00. Following the transaction, the insider owned 35,803 shares in the company, valued at $3,356,531.25. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is currently owned by company insiders.

Atkore Stock Performance

Shares of ATKR stock opened at $94.97 on Thursday. The stock has a market capitalization of $3.21 billion, a PE ratio of -19.74 and a beta of 1.69. The business’s 50 day simple moving average is $94.42 and its 200 day simple moving average is $78.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.73 and a quick ratio of 2.04. Atkore Inc. has a one year low of $53.75 and a one year high of $94.97.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.39. The firm had revenue of $794.80 million during the quarter, compared to analyst estimates of $756.23 million. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. During the same quarter last year, the business earned $2.17 EPS. As a group, research analysts forecast that Atkore Inc. will post 5.15 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on ATKR shares. Royal Bank Of Canada set a $76.00 price target on shares of Atkore in a research report on Thursday, July 16th. Weiss Ratings raised shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Roth Capital cut shares of Atkore from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $85.00 to $92.00 in a research note on Tuesday, August 4th. Finally, Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $143.33.

Atkore Profile

Atkore Inc (NYSE:ATKR) manufactures products used in electrical, safety and infrastructure applications. Its portfolio includes electrical raceway systems, cable management products, conduit, fittings, wire and cable, mechanical pipe, and related engineered solutions. These products help protect and route electrical wiring and support power distribution, communications, commercial construction, industrial facilities and infrastructure projects.

The company serves electrical, industrial, construction and infrastructure customers through a portfolio of brands and manufacturing facilities.