State of New Jersey Common Pension Fund D Increases Stake in Atkore Inc. (NYSE:ATKR)

State of New Jersey Common Pension Fund D boosted its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 46.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,804 shares of the company's stock after buying an additional 6,300 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Atkore worth $1,678,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ATKR. Quarry LP acquired a new stake in shares of Atkore in the 2nd quarter worth $57,000. Mather Group LLC. boosted its holdings in Atkore by 895.7% in the 2nd quarter. Mather Group LLC. now owns 468 shares of the company's stock valued at $63,000 after purchasing an additional 421 shares during the last quarter. Signaturefd LLC grew its stake in shares of Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company's stock valued at $42,000 after buying an additional 401 shares during the period. Headlands Technologies LLC increased its holdings in shares of Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company's stock worth $122,000 after buying an additional 805 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company's stock valued at $85,000 after buying an additional 390 shares during the period.

Analyst Ratings Changes

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

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the transaction, the insider now directly owns 27,626 shares of the company's stock, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.56% of the company's stock.

Atkore Stock Down 1.1 %

Shares of ATKR stock traded down $0.93 during trading on Tuesday, reaching $87.00. The company's stock had a trading volume of 203,668 shares, compared to its average volume of 617,406. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 6.10 and a beta of 2.13. 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 current ratio of 3.26 and a quick ratio of 2.03. The stock's 50-day moving average price is $87.66 and its 200 day moving average price is $114.98.

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.