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

SummerHaven Investment Management LLC boosted its position in shares of Atkore Inc. (NYSE:ATKR) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and 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 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Atkore in the 4th quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in Atkore in the third quarter valued at approximately $30,000. Anchor Investment Management LLC acquired a new stake in shares of Atkore in the fourth quarter valued at approximately $32,000. NBC Securities Inc. bought a new position in shares of Atkore during the 3rd quarter worth approximately $54,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Atkore during the 4th quarter worth approximately $72,000.

Atkore Stock Performance

NYSE:ATKR opened at $183.09 on Tuesday. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $174.26 and a 200 day simple moving average of $153.78. Atkore Inc. has a 1-year low of $116.14 and a 1-year high of $194.98. The stock has a market cap of $6.73 billion, a P/E ratio of 10.98 and a beta of 2.19.

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

Analyst Ratings Changes

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

Insider Buying and Selling at Atkore

In other news, CEO William E. Jr. Waltz sold 50,000 shares of Atkore stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $173.85, for a total value of $8,692,500.00. Following the completion of the sale, the chief executive officer now directly owns 83,716 shares in the company, valued at $14,554,026.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Leangela W. Lowe sold 6,500 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 25,590 shares of the company’s stock, valued at $4,505,631.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William E. Jr. Waltz sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $173.85, for a total transaction of $8,692,500.00. Following the completion of the transaction, the chief executive officer now directly owns 83,716 shares in the company, valued at $14,554,026.60. The disclosure for this sale can be found here. Insiders sold 148,464 shares of company stock valued at $25,124,751 in the last quarter. Company insiders own 2.56% of the company’s stock.

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.