Bank of Montreal Can Increases Stake in Atkore International Group Inc (ATKR)

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Bank of Montreal Can grew its position in Atkore International Group Inc (NYSE:ATKR) by 28,990.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 81,743 shares of the company’s stock after acquiring an additional 81,462 shares during the period. Bank of Montreal Can’s holdings in Atkore International Group were worth $2,168,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY increased its holdings in Atkore International Group by 64.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 14,471 shares of the company’s stock valued at $301,000 after purchasing an additional 5,692 shares during the period. Global X Management Co LLC increased its holdings in Atkore International Group by 17.1% in the second quarter. Global X Management Co LLC now owns 14,670 shares of the company’s stock valued at $305,000 after purchasing an additional 2,147 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Atkore International Group in the second quarter valued at $326,000. Meeder Asset Management Inc. increased its holdings in Atkore International Group by 3,254.0% in the second quarter. Meeder Asset Management Inc. now owns 15,898 shares of the company’s stock valued at $330,000 after purchasing an additional 15,424 shares during the period. Finally, Verition Fund Management LLC increased its holdings in Atkore International Group by 36.7% in the second quarter. Verition Fund Management LLC now owns 16,006 shares of the company’s stock valued at $332,000 after purchasing an additional 4,294 shares during the period. Institutional investors own 95.71% of the company’s stock.

NYSE ATKR opened at $20.43 on Friday. The firm has a market capitalization of $957.57 million, a P/E ratio of 15.99, a P/E/G ratio of 0.84 and a beta of 2.78. Atkore International Group Inc has a twelve month low of $17.60 and a twelve month high of $28.67. The company has a debt-to-equity ratio of 12.18, a current ratio of 2.39 and a quick ratio of 1.57.

Atkore International Group (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.29. Atkore International Group had a return on equity of 56.38% and a net margin of 7.12%. The business had revenue of $498.01 million during the quarter, compared to the consensus estimate of $444.77 million. On average, sell-side analysts anticipate that Atkore International Group Inc will post 2.13 EPS for the current fiscal year.

In other Atkore International Group news, VP Peter J. Lariviere sold 7,292 shares of the stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $27.77, for a total transaction of $202,498.84. Following the completion of the sale, the vice president now directly owns 106,670 shares in the company, valued at approximately $2,962,225.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John Patrick Williamson sold 100,000 shares of the stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $25.64, for a total value of $2,564,000.00. Following the sale, the chief executive officer now owns 328,385 shares of the company’s stock, valued at $8,419,791.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,970 shares of company stock valued at $3,378,805. Company insiders own 68.80% of the company’s stock.

A number of research firms recently weighed in on ATKR. Citigroup downgraded Atkore International Group from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a report on Friday, September 7th. UBS Group increased their price objective on Atkore International Group from $27.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, August 30th. Zacks Investment Research upgraded Atkore International Group from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a report on Friday, August 10th. Finally, Royal Bank of Canada increased their price objective on Atkore International Group to $29.00 and gave the company an “outperform” rating in a report on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $29.25.

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Atkore International Group Company Profile

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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Institutional Ownership by Quarter for Atkore International Group (NYSE:ATKR)

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