CacheTech Inc. Has $2.18 Million Holdings in Atkore Inc. (NYSE:ATKR)

CacheTech Inc. increased its position in shares of Atkore Inc. (NYSE:ATKR) by 56.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,761 shares of the company’s stock after buying an additional 9,310 shares during the period. CacheTech Inc. owned 0.07% of Atkore worth $2,183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC raised its position in shares of Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after acquiring an additional 401 shares in the last quarter. Quarry LP acquired a new position in Atkore in the second quarter valued at approximately $57,000. Mather Group LLC. lifted its stake in Atkore by 895.7% in the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after buying an additional 421 shares during the period. Headlands Technologies LLC boosted its holdings in shares of Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after buying an additional 805 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Atkore during the 3rd quarter worth approximately $126,000.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the transaction, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.56% of the stock is currently owned by corporate insiders.

Atkore Stock Up 0.8 %

Shares of NYSE ATKR opened at $86.42 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The company has a 50-day moving average price of $86.92 and a 200-day moving average price of $122.12. The stock has a market capitalization of $3.10 billion, a P/E ratio of 6.07 and a beta of 2.14. Atkore Inc. has a 1 year low of $80.11 and a 1 year high of $194.98.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.28. The business had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.13 EPS. On average, equities research analysts forecast that Atkore Inc. will post 12.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ATKR shares. Loop Capital dropped their target price on shares of Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. KeyCorp dropped their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. Finally, B. Riley decreased their target price on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.60.

About Atkore

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.