Alliancebernstein L.P. lowered its stake in shares of Atkore International Group (NYSE:ATKR) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,300 shares of the company’s stock after selling 3,400 shares during the quarter. Alliancebernstein L.P. owned approximately 0.06% of Atkore International Group worth $779,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Atkore International Group during the fourth quarter worth approximately $130,000. Teacher Retirement System of Texas acquired a new stake in Atkore International Group during the fourth quarter worth approximately $237,000. Bailard Inc. acquired a new stake in Atkore International Group during the fourth quarter worth approximately $324,000. Stoneridge Investment Partners LLC raised its holdings in Atkore International Group by 16.6% during the fourth quarter. Stoneridge Investment Partners LLC now owns 22,296 shares of the company’s stock worth $478,000 after purchasing an additional 3,174 shares in the last quarter. Finally, First Republic Investment Management Inc. acquired a new stake in Atkore International Group during the third quarter worth approximately $488,000. 99.26% of the stock is currently owned by institutional investors.
In related news, VP James A. Mallak sold 87,700 shares of Atkore International Group stock in a transaction on 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 approximately $3,542,871.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Patrick Williamson sold 3,760 shares of Atkore International Group stock in a transaction on Monday, March 12th. The shares were sold at an average price of $21.00, for a total transaction of $78,960.00. Following the completion of the transaction, the insider now owns 196,872 shares in the company, valued at $4,134,312. The disclosure for this sale can be found here. Insiders sold a total of 23,109,924 shares of company stock worth $500,173,870 over the last ninety days. Corporate insiders own 68.80% of the company’s stock.
Shares of Atkore International Group stock opened at $18.58 on Monday. The firm has a market capitalization of $1,174.19, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.03 and a beta of 1.62. Atkore International Group has a 12 month low of $15.05 and a 12 month high of $26.80. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.39 and a current ratio of 2.45.
Atkore International Group (NYSE:ATKR) last announced its earnings results on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The business had revenue of $414.60 million for the quarter, compared to analysts’ expectations of $382.89 million. Atkore International Group had a net margin of 5.97% and a return on equity of 26.99%. The company’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. equities research analysts expect that Atkore International Group will post 1.8 EPS for the current fiscal year.
A number of research firms have weighed in on ATKR. Zacks Investment Research cut shares of Atkore International Group from a “buy” rating to a “hold” rating in a report on Tuesday, April 10th. Citigroup cut their price objective on shares of Atkore International Group from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, April 9th. TheStreet raised shares of Atkore International Group from a “d+” rating to a “c” rating in a report on Wednesday, February 14th. Finally, UBS assumed coverage on shares of Atkore International Group in a report on Tuesday, January 23rd. They issued a “hold” rating and a $23.00 target price on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $23.80.
About Atkore International Group
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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