Amalgamated Bank lowered its stake in shares of Atkore Inc. (NYSE:ATKR – Get Rating) by 8.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,439 shares of the company's stock after selling 677 shares during the quarter. Amalgamated Bank's holdings in Atkore were worth $732,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors bought a new stake in Atkore during the 1st quarter valued at $42,940,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Atkore by 1,349.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 445,467 shares of the company's stock valued at $43,852,000 after acquiring an additional 414,743 shares in the last quarter. Invesco Ltd. raised its stake in shares of Atkore by 17.8% in the 1st quarter. Invesco Ltd. now owns 713,859 shares of the company's stock worth $70,272,000 after buying an additional 108,075 shares in the last quarter. North Point Portfolio Managers Corp OH bought a new stake in shares of Atkore in the 1st quarter worth $10,330,000. Finally, First Republic Investment Management Inc. raised its stake in shares of Atkore by 378.8% in the 1st quarter. First Republic Investment Management Inc. now owns 130,397 shares of the company's stock worth $12,836,000 after buying an additional 103,161 shares in the last quarter. Institutional investors and hedge funds own 97.39% of the company's stock.
Get Atkore alerts:Atkore Stock Up 1.5 %
Shares of Atkore stock opened at $77.81 on Friday. The stock's fifty day moving average is $86.34 and its 200-day moving average is $94.02. The firm has a market capitalization of $3.22 billion, a PE ratio of 4.01 and a beta of 2.28. The company has a quick ratio of 1.91, a current ratio of 2.77 and a debt-to-equity ratio of 0.67. Atkore Inc. has a 12-month low of $70.50 and a 12-month high of $123.53.
Atkore (NYSE:ATKR – Get Rating) last announced its earnings results on Tuesday, August 2nd. The company reported $5.74 earnings per share (EPS) for the quarter. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.01 billion. Atkore had a return on equity of 90.18% and a net margin of 23.50%. Atkore's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.96 earnings per share.Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Royal Bank of Canada dropped their price objective on Atkore from $151.00 to $125.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 3rd. StockNews.com downgraded Atkore from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 27th. Finally, Credit Suisse Group boosted their price objective on Atkore from $130.00 to $143.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 3rd.
About Atkore
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Atkore Inc manufactures and sells electrical, safety, and infrastructure products in the United States and internationally. The company offers electrical products, including conduits cables, and installation accessories. It also provides safety and infrastructure solutions, such as metal framing, mechanical pipe, perimeter security, and cable management.
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