Levin Capital Strategies L.P. boosted its position in Atkore International Group Inc (NASDAQ:ATKR) by 85.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,546,180 shares of the company’s stock after buying an additional 1,629,402 shares during the period. Atkore International Group comprises approximately 1.7% of Levin Capital Strategies L.P.’s investment portfolio, making the stock its 21st largest position. Levin Capital Strategies L.P.’s holdings in Atkore International Group were worth $93,194,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the company. BlackRock Group LTD purchased a new position in shares of Atkore International Group during the third quarter worth approximately $2,372,000. Acrospire Investment Management LLC purchased a new position in shares of Atkore International Group during the third quarter worth approximately $114,000. Cornercap Investment Counsel Inc. purchased a new position in shares of Atkore International Group during the fourth quarter worth approximately $648,000. Russell Investments Group Ltd. purchased a new position in shares of Atkore International Group during the fourth quarter worth approximately $18,388,000. Finally, Bessemer Group Inc. purchased a new position in shares of Atkore International Group during the fourth quarter worth approximately $522,000.
Shares of Atkore International Group Inc (NASDAQ:ATKR) traded down 0.23% during midday trading on Friday, hitting $21.60. 573,835 shares of the stock were exchanged. The firm has a market cap of $1.37 billion and a P/E ratio of 19.15. Atkore International Group Inc has a 12-month low of $14.17 and a 12-month high of $27.30. The stock’s 50 day moving average is $24.94 and its 200 day moving average is $24.17.
Atkore International Group (NASDAQ:ATKR) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.08. The business had revenue of $372.79 million for the quarter, compared to analysts’ expectations of $363.74 million. During the same period in the previous year, the business posted $0.31 earnings per share. Atkore International Group’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that Atkore International Group Inc will post $1.57 earnings per share for the current fiscal year.
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ATKR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Atkore International Group from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a report on Tuesday, January 31st. Royal Bank of Canada boosted their price objective on shares of Atkore International Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $23.43.
In other Atkore International Group news, major shareholder Allied Holdings L.P. Cd&R sold 10,350,000 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $25.00, for a total value of $258,750,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kevin P. Fitzpatrick sold 22,362 shares of the stock in a transaction on Friday, April 28th. The shares were sold at an average price of $26.22, for a total transaction of $586,331.64. Following the completion of the sale, the vice president now directly owns 76,212 shares of the company’s stock, valued at $1,998,278.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,590,683 shares of company stock valued at $265,028,738.
About Atkore International Group
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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