PNC Financial Services Group Inc. Acquires 842 Shares of Atkore Inc. (NYSE:ATKR)

PNC Financial Services Group Inc. increased its holdings in Atkore Inc. (NYSE:ATKR) by 11.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,325 shares of the company’s stock after purchasing an additional 842 shares during the period. PNC Financial Services Group Inc.’s holdings in Atkore were worth $724,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ATKR. Creative Financial Designs Inc. ADV bought a new stake in Atkore in the third quarter worth $41,000. Banque Cantonale Vaudoise bought a new stake in Atkore in the third quarter worth $48,000. Spire Wealth Management increased its position in Atkore by 148.8% in the third quarter. Spire Wealth Management now owns 836 shares of the company’s stock worth $73,000 after purchasing an additional 500 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in Atkore by 41.0% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,375 shares of the company’s stock worth $98,000 after buying an additional 400 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its stake in Atkore by 59.1% during the second quarter. Harvest Fund Management Co. Ltd now owns 1,558 shares of the company’s stock worth $112,000 after buying an additional 579 shares during the period. Institutional investors own 92.79% of the company’s stock.

ATKR has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price objective on shares of Atkore from $99.00 to $129.00 and gave the stock an “outperform” rating in a research note on Friday, November 19th. They noted that the move was a valuation call. Credit Suisse Group lifted their price objective on shares of Atkore from $107.00 to $121.00 and gave the stock an “outperform” rating in a research note on Friday, November 19th. Finally, Citigroup lifted their price objective on shares of Atkore from $102.00 to $123.00 and gave the stock a “neutral” rating in a research note on Friday, November 19th.

Shares of ATKR opened at $103.17 on Friday. The firm has a market capitalization of $4.78 billion, a P/E ratio of 8.44 and a beta of 2.42. Atkore Inc. has a 12-month low of $43.19 and a 12-month high of $118.49. The company has a current ratio of 2.71, a quick ratio of 2.16 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $108.02 and a 200-day moving average price of $93.24.

Atkore (NYSE:ATKR) last issued its earnings results on Thursday, November 18th. The company reported $4.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.84 by $0.55. The firm had revenue of $923.70 million during the quarter, compared to analyst estimates of $839.38 million. Atkore had a net margin of 20.08% and a return on equity of 92.24%. The business’s revenue was up 93.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 earnings per share.

In related news, Director William Vanarsdale sold 3,353 shares of the company’s stock in a transaction dated Tuesday, November 23rd. The shares were sold at an average price of $115.00, for a total value of $385,595.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark F. Lamps sold 320 shares of the company’s stock in a transaction dated Tuesday, November 30th. The stock was sold at an average price of $108.12, for a total transaction of $34,598.40. The disclosure for this sale can be found here. Insiders have sold 10,281 shares of company stock valued at $1,160,582 over the last three months. Insiders own 1.96% of the company’s stock.

About Atkore

Atkore, Inc engages in the manufacture of electrical raceway products. It operates through the Electrical, and Safety and Infrastructure segments. The Electrical segment produces products used in the construction of electrical power systems such as conduit, cable, and installation accessories. The Safety and Infrastructure segment designs and creates solutions including metal framing, mechanical pipe, perimeter security, and cable management for the protection and reliability of critical infrastructure.

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Institutional Ownership by Quarter for Atkore (NYSE:ATKR)

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