Metropolitan Life Insurance Co. NY lessened its holdings in Atkore International Group (NYSE:ATKR) by 52.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,940 shares of the company’s stock after selling 11,963 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Atkore International Group were worth $235,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Crestline Management LP acquired a new stake in shares of Atkore International Group in the fourth quarter worth $1,500,000. Millennium Management LLC boosted its position in shares of Atkore International Group by 202.6% in the fourth quarter. Millennium Management LLC now owns 760,532 shares of the company’s stock worth $16,313,000 after buying an additional 509,199 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Atkore International Group by 41.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 221,682 shares of the company’s stock worth $4,754,000 after buying an additional 65,400 shares during the period. Teachers Advisors LLC boosted its position in shares of Atkore International Group by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 558,624 shares of the company’s stock worth $11,982,000 after buying an additional 17,825 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of Atkore International Group by 885.1% in the fourth quarter. Two Sigma Investments LP now owns 237,613 shares of the company’s stock worth $5,097,000 after buying an additional 213,493 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.
In related news, insider John Patrick Williamson sold 3,760 shares of Atkore International Group stock in a transaction on Monday, March 12th. The stock was sold at an average price of $21.00, for a total transaction of $78,960.00. Following the completion of the sale, the insider now owns 196,872 shares of the company’s stock, valued at $4,134,312. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Allied Holdings L.P. Cd&R sold 17,225,539 shares of Atkore International Group stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $21.77, for a total value of $374,999,984.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,109,924 shares of company stock valued at $500,173,870. Insiders own 51.00% of the company’s stock.
Several analysts have recently commented on ATKR shares. UBS started coverage on Atkore International Group in a research report on Tuesday, January 23rd. They issued a “hold” rating and a $23.00 target price for 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. TheStreet raised Atkore International Group from a “d+” rating to a “c” rating in a research report on Wednesday, February 14th. Finally, Zacks Investment Research raised Atkore International Group from a “sell” rating to a “hold” rating and set a $24.00 target price for the company in a research report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Atkore International Group presently has an average rating of “Buy” and an average price target of $23.80.
ATKR opened at $18.52 on Wednesday. The firm has a market cap of $1,213.62, a P/E ratio of 14.58, a PEG ratio of 1.06 and a beta of 1.61. Atkore International Group has a 1 year low of $15.05 and a 1 year high of $26.80. The company has a quick ratio of 1.39, a current ratio of 2.45 and a debt-to-equity ratio of 1.36.
Atkore International Group (NYSE:ATKR) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $414.60 million during the quarter, compared to analysts’ expectations of $382.89 million. Atkore International Group had a return on equity of 26.99% and a net margin of 5.97%. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. analysts predict that Atkore International Group will post 1.8 earnings per share for the current year.
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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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