QRG Capital Management Inc. Trims Stock Position in Atkore Inc. (NYSE:ATKR)

QRG Capital Management Inc. lowered its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 81.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,919 shares of the company's stock after selling 12,921 shares during the quarter. QRG Capital Management Inc.'s holdings in Atkore were worth $247,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC acquired a new stake in Atkore in the first quarter valued at approximately $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 worth about $47,591,000. Marshall Wace LLP raised its holdings in shares of 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 about $23,306,000.

Atkore Stock Performance

ATKR stock traded down $1.88 during midday trading on Tuesday, hitting $93.85. The company's stock had a trading volume of 90,986 shares, compared to its average volume of 617,945. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 6.72 and a beta of 2.13. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49. The stock's 50-day moving average price is $87.09 and its 200 day moving average price is $118.06. Atkore Inc. has a 1 year low of $80.11 and a 1 year high of $194.98.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Royal Bank of Canada downgraded Atkore from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $175.00 to $100.00 in a research note on Wednesday, August 7th. B. Riley dropped their price objective on Atkore from $183.00 to $135.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. KeyCorp reduced their target price on shares of Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday, September 13th. Finally, 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 report on Friday, September 20th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $131.60.

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.