New York State Common Retirement Fund Grows Stock Position in Atkore Inc. (NYSE:ATKR)

New York State Common Retirement Fund boosted its position in Atkore Inc. (NYSE:ATKR) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,012 shares of the company’s stock after purchasing an additional 3,822 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of Atkore worth $9,122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in shares of Atkore in the third quarter valued at about $30,000. Anchor Investment Management LLC acquired a new stake in Atkore in the 4th quarter valued at about $32,000. NBC Securities Inc. purchased a new position in Atkore in the 3rd quarter worth approximately $54,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Atkore during the 4th quarter worth approximately $72,000. Finally, Parkside Financial Bank & Trust grew its position in shares of Atkore by 34.9% in the third quarter. Parkside Financial Bank & Trust now owns 533 shares of the company’s stock valued at $80,000 after purchasing an additional 138 shares in the last quarter.

Atkore Price Performance

Shares of ATKR opened at $174.94 on Thursday. The company has a market cap of $6.43 billion, a P/E ratio of 10.49 and a beta of 2.19. Atkore Inc. has a fifty-two week low of $116.14 and a fifty-two week high of $194.98. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average price is $175.53 and its 200 day moving average price is $154.19.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Thursday, February 1st. The company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $1.04. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The business had revenue of $798.50 million for the quarter, compared to analysts’ expectations of $777.05 million. During the same period last year, the firm earned $4.51 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, research analysts forecast that Atkore Inc. will post 15.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Daniel S. Kelly sold 8,685 shares of Atkore stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.07, for a total value of $1,503,112.95. Following the completion of the transaction, the vice president now owns 34,907 shares in the company, valued at approximately $6,041,354.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Daniel S. Kelly sold 8,685 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.07, for a total value of $1,503,112.95. Following the sale, the vice president now directly owns 34,907 shares in the company, valued at approximately $6,041,354.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William E. Jr. Waltz sold 43,072 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.48, for a total transaction of $6,912,194.56. Following the transaction, the chief executive officer now owns 83,716 shares of the company’s stock, valued at approximately $13,434,743.68. The disclosure for this sale can be found here. Insiders have sold a total of 148,464 shares of company stock worth $25,124,751 in the last quarter. 2.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $187.00 price objective on shares of Atkore in a research report on Friday, March 22nd. StockNews.com upgraded Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Citigroup upped their target price on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, April 8th.

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.