Alambic Investment Management L.P. trimmed its holdings in Atkore International Group (NYSE:ATKR) by 9.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 126,747 shares of the company’s stock after selling 12,800 shares during the quarter. Alambic Investment Management L.P. owned about 0.20% of Atkore International Group worth $2,516,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ATKR. Dimensional Fund Advisors LP bought a new stake in Atkore International Group in the 3rd quarter worth about $2,636,000. SG Americas Securities LLC purchased a new position in Atkore International Group in the fourth quarter worth about $130,000. Sutton Square Management L.P. purchased a new position in Atkore International Group in the fourth quarter worth about $6,426,000. Engineers Gate Manager LP purchased a new position in Atkore International Group in the fourth quarter worth about $590,000. Finally, Victory Capital Management Inc. boosted its position in Atkore International Group by 7,746.4% in the fourth quarter. Victory Capital Management Inc. now owns 513,393 shares of the company’s stock worth $11,013,000 after purchasing an additional 506,850 shares during the last quarter.
In other news, major shareholder Allied Holdings L.P. Cd&R sold 5,792,925 shares of Atkore International Group stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $21.27, for a total transaction of $123,215,514.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP James A. Mallak sold 87,700 shares of Atkore International Group stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $21.43, for a total value of $1,879,411.00. Following the transaction, the vice president now directly owns 165,323 shares in the company, valued at $3,542,871.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,038,663 shares of company stock worth $128,414,914. Insiders own 68.80% of the company’s stock.
Atkore International Group (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, May 8th. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.22. Atkore International Group had a return on equity of 40.89% and a net margin of 7.14%. The firm had revenue of $445.00 million for the quarter, compared to analysts’ expectations of $415.21 million. During the same period in the previous year, the firm earned $0.35 EPS. equities analysts forecast that Atkore International Group will post 1.79 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. Citigroup raised their target price on Atkore International Group from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. UBS assumed coverage on Atkore International Group in a research report on Tuesday, January 23rd. They issued a “hold” rating and a $23.00 target price on the stock. Zacks Investment Research raised Atkore International Group from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a research report on Thursday, February 8th. Finally, TheStreet raised Atkore International Group from a “d+” rating to a “c” rating in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.60.
Atkore International Group Profile
Atkore International Group Inc manufactures and distributes electrical raceway products in the United States and internationally. The company's electrical raceway products include electrical conduits and fittings, armored cable and fittings, cable trays and mounting systems, and fittings for the non-residential construction, renovation markets, and mechanical products and solutions (MP&S) for the construction, and industrial markets.
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