Mach 1 Financial Group LLC Buys New Stake in Atkore Inc. (NYSE:ATKR)

Mach 1 Financial Group LLC bought a new position in shares of Atkore Inc. (NYSE:ATKR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,533 shares of the company’s stock, valued at approximately $245,000.

Other institutional investors also recently bought and sold shares of the company. Boston Partners raised its position in shares of Atkore by 149.7% during the 3rd quarter. Boston Partners now owns 601,910 shares of the company’s stock worth $88,670,000 after purchasing an additional 360,837 shares during the last quarter. River Road Asset Management LLC boosted its position in Atkore by 14.1% during the fourth quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock worth $201,646,000 after acquiring an additional 155,508 shares during the last quarter. Clearbridge Investments LLC grew its stake in Atkore by 78.4% during the 3rd quarter. Clearbridge Investments LLC now owns 278,691 shares of the company’s stock valued at $41,578,000 after acquiring an additional 122,516 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Atkore by 25.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 540,973 shares of the company’s stock valued at $80,708,000 after acquiring an additional 111,115 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Atkore by 13.8% in the 3rd quarter. Invesco Ltd. now owns 818,309 shares of the company’s stock valued at $122,084,000 after acquiring an additional 99,345 shares during the last quarter.

Analyst Ratings Changes

ATKR has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $187.00 price target on shares of Atkore in a research report on Friday, March 22nd. Citigroup boosted their target price on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Friday, April 5th.

Insider Activity at Atkore

In other news, CEO William E. Jr. Waltz sold 43,072 shares of Atkore stock in a transaction on Monday, February 26th. The shares were sold at an average price of $160.48, for a total value of $6,912,194.56. Following the transaction, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at approximately $13,434,743.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of the company’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 completion of the transaction, the chief executive officer now owns 83,716 shares in the company, valued at approximately $13,434,743.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William E. Jr. Waltz sold 50,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $173.85, for a total transaction of $8,692,500.00. Following the completion of the sale, the chief executive officer now owns 83,716 shares of the company’s stock, valued at approximately $14,554,026.60. The disclosure for this sale can be found here. Insiders sold a total of 148,464 shares of company stock valued at $25,124,751 in the last three months. 2.56% of the stock is currently owned by company insiders.

Atkore Stock Performance

Shares of ATKR stock opened at $174.94 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.99 and a current ratio of 2.96. The firm has a market cap of $6.43 billion, a P/E ratio of 10.49 and a beta of 2.19. The firm’s 50 day moving average price is $175.53 and its 200-day moving average price is $154.19. Atkore Inc. has a one year low of $116.14 and a one year high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Thursday, February 1st. The company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $1.04. The business had revenue of $798.50 million for the quarter, compared to analysts’ expectations of $777.05 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned $4.51 earnings per share. As a group, equities research analysts predict that Atkore Inc. will post 15.06 EPS for the current year.

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.