Transmarket Holdings LP Purchases New Shares in Atkore Inc. $ATKR

Transmarket Holdings LP purchased a new stake in Atkore Inc. (NYSE:ATKR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 106,084 shares of the company’s stock, valued at approximately $10,051,000. Atkore accounts for approximately 5.6% of Transmarket Holdings LP’s investment portfolio, making the stock its 4th biggest position. Transmarket Holdings LP owned about 0.31% of Atkore at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Atkore during the second quarter worth $236,958,000. Dimensional Fund Advisors LP grew its stake in shares of Atkore by 8.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company’s stock valued at $72,341,000 after acquiring an additional 97,514 shares in the last quarter. Hill City Capital LP acquired a new position in shares of Atkore in the second quarter valued at about $55,061,000. Irenic Capital Management LP increased its position in Atkore by 3,531.8% during the second quarter. Irenic Capital Management LP now owns 507,613 shares of the company’s stock worth $38,599,000 after acquiring an additional 493,636 shares during the period. Finally, Bank of America Corp DE increased its position in Atkore by 10.1% during the first quarter. Bank of America Corp DE now owns 462,278 shares of the company’s stock worth $27,233,000 after acquiring an additional 42,593 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ATKR shares. Roth Capital downgraded shares of Atkore from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $85.00 to $92.00 in a report on Tuesday, August 4th. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Royal Bank Of Canada set a $76.00 price target on shares of Atkore in a research report on Thursday, July 16th. Finally, Weiss Ratings upgraded Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.33.

Insider Activity

In related news, insider Mark Lamps sold 300 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $93.75, for a total transaction of $28,125.00. Following the completion of the transaction, the insider directly owned 35,803 shares in the company, valued at $3,356,531.25. This represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.10% of the company’s stock.

Atkore Price Performance

Atkore stock opened at $94.97 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.04 and a current ratio of 2.73. Atkore Inc. has a 52 week low of $53.75 and a 52 week high of $94.97. The stock has a market capitalization of $3.21 billion, a P/E ratio of -19.74 and a beta of 1.69. The stock has a fifty day moving average of $94.42 and a 200-day moving average of $78.00.

Atkore (NYSE:ATKR) last released its earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.39. The firm had revenue of $794.80 million for the quarter, compared to analysts’ expectations of $756.23 million. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%. During the same quarter in the previous year, the business posted $2.17 earnings per share. On average, sell-side analysts expect that Atkore Inc. will post 5.15 earnings per share for the current fiscal year.

About Atkore

Atkore Inc (NYSE:ATKR) manufactures products used in electrical, safety and infrastructure applications. Its portfolio includes electrical raceway systems, cable management products, conduit, fittings, wire and cable, mechanical pipe, and related engineered solutions. These products help protect and route electrical wiring and support power distribution, communications, commercial construction, industrial facilities and infrastructure projects.

The company serves electrical, industrial, construction and infrastructure customers through a portfolio of brands and manufacturing facilities.