Wolverine Asset Management LLC Invests $628,000 in Atkore Inc. $ATKR

Wolverine Asset Management LLC purchased a new position in shares of Atkore Inc. (NYSE:ATKR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,900 shares of the company’s stock, valued at approximately $628,000.

Several other large investors have also modified their holdings of the stock. Gates Capital Management Inc. raised its stake in shares of Atkore by 25.2% during the first quarter. Gates Capital Management Inc. now owns 3,265,061 shares of the company’s stock worth $195,871,000 after purchasing an additional 657,707 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Atkore by 7.2% during the first quarter. American Century Companies Inc. now owns 840,505 shares of the company’s stock worth $50,422,000 after purchasing an additional 56,692 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Atkore by 24.1% during the first quarter. Wellington Management Group LLP now owns 753,107 shares of the company’s stock worth $45,179,000 after purchasing an additional 146,066 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Atkore by 33.4% during the first quarter. Victory Capital Management Inc. now owns 628,300 shares of the company’s stock worth $37,692,000 after purchasing an additional 157,470 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of Atkore by 8.4% during the first quarter. Royce & Associates LP now owns 447,425 shares of the company’s stock worth $26,841,000 after purchasing an additional 34,673 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ATKR shares. Weiss Ratings cut Atkore from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. KeyCorp reiterated a “sector weight” rating on shares of Atkore in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.57.

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction on Friday, August 15th. The stock was sold at an average price of $59.37, for a total transaction of $59,370.00. Following the completion of the transaction, the insider owned 31,873 shares of the company’s stock, valued at $1,892,300.01. The trade was a 3.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.99% of the stock is owned by company insiders.

Atkore Trading Up 1.0%

NYSE:ATKR opened at $69.29 on Monday. The company has a market capitalization of $2.33 billion, a PE ratio of 22.21 and a beta of 2.13. The company has a quick ratio of 2.08, a current ratio of 3.09 and a debt-to-equity ratio of 0.52. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $105.28. The stock has a fifty day simple moving average of $62.61 and a 200-day simple moving average of $65.83.

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.