Atlantic Trust Group LLC increased its position in Atkore International Group Inc (NYSE:ATKR) by 14,400.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,075 shares of the company’s stock after buying an additional 5,040 shares during the quarter. Atlantic Trust Group LLC’s holdings in Atkore International Group were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Millennium Management LLC raised its stake in Atkore International Group by 202.6% during the fourth quarter. Millennium Management LLC now owns 760,532 shares of the company’s stock worth $16,313,000 after acquiring an additional 509,199 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in Atkore International Group by 41.8% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 221,682 shares of the company’s stock worth $4,754,000 after acquiring an additional 65,400 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Atkore International Group during the fourth quarter worth $237,000. Wells Fargo & Company MN raised its stake in Atkore International Group by 4.7% during the first quarter. Wells Fargo & Company MN now owns 1,739,688 shares of the company’s stock worth $34,532,000 after acquiring an additional 78,441 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Atkore International Group by 7.4% during the fourth quarter. Bank of New York Mellon Corp now owns 281,568 shares of the company’s stock worth $6,040,000 after acquiring an additional 19,451 shares in the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ATKR opened at $20.96 on Wednesday. Atkore International Group Inc has a twelve month low of $15.05 and a twelve month high of $24.48. The firm has a market capitalization of $967.40 million, a PE ratio of 16.50, a price-to-earnings-growth ratio of 1.08 and a beta of 1.94. The company has a debt-to-equity ratio of 14.51, a current ratio of 2.55 and a quick ratio of 1.62.
Atkore International Group (NYSE:ATKR) last announced its earnings results 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 company had revenue of $445.00 million during the quarter, compared to analyst estimates of $415.21 million. During the same period last year, the company posted $0.35 earnings per share. equities analysts anticipate that Atkore International Group Inc will post 1.92 earnings per share for the current year.
ATKR has been the subject of several recent analyst reports. TheStreet lowered Atkore International Group from a “c” rating to a “d” rating in a research note on Thursday, May 24th. Zacks Investment Research lowered Atkore International Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 14th. Finally, Citigroup dropped their price objective on Atkore International Group from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, April 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $23.60.
In related news, major shareholder Allied Holdings L.P. Cd&R sold 6,959,976 shares of Atkore International Group stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $19.91, for a total value of $138,573,122.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Patrick Williamson sold 118,988 shares of Atkore International Group stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $21.01, for a total value of $2,499,937.88. Following the completion of the sale, the insider now owns 237,107 shares of the company’s stock, valued at $4,981,618.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,351,405 shares of company stock valued at $147,112,321. 51.00% of the stock is currently owned by corporate insiders.
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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