Sutton Square Management L.P. bought a new position in shares of Atkore International Group Inc (NYSE:ATKR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 299,570 shares of the company’s stock, valued at approximately $6,426,000. Atkore International Group comprises approximately 4.0% of Sutton Square Management L.P.’s investment portfolio, making the stock its 13th largest position. Sutton Square Management L.P. owned about 0.47% of Atkore International Group at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ATKR. Vanguard Group Inc. raised its position in Atkore International Group by 13.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,549,616 shares of the company’s stock worth $80,044,000 after purchasing an additional 417,268 shares during the last quarter. Macquarie Group Ltd. raised its position in Atkore International Group by 71.4% during the 3rd quarter. Macquarie Group Ltd. now owns 1,807,578 shares of the company’s stock worth $35,266,000 after purchasing an additional 753,154 shares during the last quarter. FMR LLC raised its position in Atkore International Group by 18.3% during the 2nd quarter. FMR LLC now owns 1,527,400 shares of the company’s stock worth $34,443,000 after purchasing an additional 235,900 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Atkore International Group by 14.9% during the 3rd quarter. Wells Fargo & Company MN now owns 1,461,310 shares of the company’s stock worth $28,510,000 after acquiring an additional 189,205 shares during the period. Finally, Van Den Berg Management I Inc. grew its holdings in Atkore International Group by 118.7% during the 3rd quarter. Van Den Berg Management I Inc. now owns 1,373,035 shares of the company’s stock worth $26,788,000 after acquiring an additional 745,160 shares during the period. Hedge funds and other institutional investors own 96.59% of the company’s stock.
Several analysts have recently commented on the company. Zacks Investment Research upgraded Atkore International Group from a “sell” rating to a “hold” rating and set a $24.00 target price for the company in a research note on Thursday, February 8th. Citigroup set a $26.00 price target on shares of Atkore International Group and gave the company a “buy” rating in a research report on Thursday, November 30th. TheStreet raised shares of Atkore International Group from a “d+” rating to a “c-” rating in a research report on Wednesday, November 29th. BidaskClub raised shares of Atkore International Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 21st. Finally, UBS Group initiated coverage on shares of Atkore International Group in a research report on Tuesday, January 23rd. They set 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 assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $24.00.
Atkore International Group Inc (NYSE ATKR) traded down $0.09 during trading hours on Wednesday, hitting $21.80. 86,168 shares of the company were exchanged, compared to its average volume of 367,967. Atkore International Group Inc has a 52 week low of $15.05 and a 52 week high of $27.06. The company has a market cap of $1,382.18, a PE ratio of 15.52, a PEG ratio of 1.21 and a beta of 1.25. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.45 and a quick ratio of 1.39.
Atkore International Group (NYSE:ATKR) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The business had revenue of $414.60 million during the quarter, compared to analyst estimates of $382.89 million. Atkore International Group had a net margin of 5.97% and a return on equity of 26.99%. Atkore International Group’s revenue was up 22.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. sell-side analysts anticipate that Atkore International Group Inc will post 1.8 EPS for the current year.
In other news, insider John Patrick Williamson sold 70,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $20.79, for a total transaction of $1,455,300.00. Following the completion of the transaction, the insider now directly owns 262,172 shares of the company’s stock, valued at $5,450,555.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Allied Holdings L.P. Cd&R sold 17,225,539 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $21.77, for a total transaction of $374,999,984.03. The disclosure for this sale can be found here. Insiders have sold a total of 17,557,923 shares of company stock valued at $382,032,981 over the last 90 days. Company insiders own 51.00% of the company’s stock.
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Atkore International Group Company Profile
Atkore International Group Inc is a manufacturer of electrical raceway products. The Company’s products are primarily offered for non-residential construction and renovation markets, and mechanical products and solutions (MP&S) for the construction and industrial markets. The Company operates in two segments: Electrical Raceway and MP&S.
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