107,327 Shares in Atkore Inc. (NYSE:ATKR) Acquired by M&G Plc

M&G PLC acquired a new position in Atkore Inc. (NYSE:ATKR - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 107,327 shares of the company's stock, valued at approximately $9,123,000. M&G PLC owned 0.29% of Atkore as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hood River Capital Management LLC purchased a new stake in Atkore during the 1st quarter valued at about $63,900,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Atkore by 26.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company's stock valued at $104,599,000 after buying an additional 261,234 shares during the last quarter. Swedbank AB bought a new stake in shares of Atkore during the first quarter valued at approximately $47,591,000. Marshall Wace LLP raised its holdings in Atkore by 1,047.5% in the 2nd quarter. Marshall Wace LLP now owns 224,267 shares of the company's stock worth $30,260,000 after acquiring an additional 204,723 shares during the last quarter. Finally, Boston Trust Walden Corp bought a new position in Atkore in the 2nd quarter valued at approximately $23,306,000.

Insider Activity

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the completion of the sale, the insider now owns 28,086 shares in the company, valued at $2,681,370.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.56% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ATKR. Royal Bank of Canada lowered Atkore from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $175.00 to $100.00 in a report on Wednesday, August 7th. Loop Capital reduced their price objective on Atkore from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, September 20th. KeyCorp decreased their target price on Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday, September 13th. Finally, B. Riley dropped their price target 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $131.60.

Atkore Stock Performance

ATKR stock traded down $7.39 during trading on Friday, reaching $95.31. The stock had a trading volume of 1,222,435 shares, compared to its average volume of 620,112. The stock's 50 day moving average is $87.04 and its two-hundred day moving average is $119.50. The firm has a market cap of $3.42 billion, a PE ratio of 6.69 and a beta of 2.13. Atkore Inc. has a 52 week low of $80.11 and a 52 week high of $194.98. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.28. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The company had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. During the same period in the previous year, the business posted $5.13 earnings per share. The firm's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that Atkore Inc. will post 12.69 earnings per share 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.