Jennison Associates LLC Sells 50,231 Shares of Atkore International Group Inc. (NYSE:ATKR)


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Jennison Associates LLC trimmed its position in Atkore International Group Inc. (NYSE:ATKR) by 64.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 27,768 shares of the company’s stock after selling 50,231 shares during the period. Jennison Associates LLC owned about 0.06% of Atkore International Group worth $1,142,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Wells Fargo & Company MN grew its position in Atkore International Group by 7.8% in the 3rd quarter. Wells Fargo & Company MN now owns 2,690,379 shares of the company’s stock worth $61,152,000 after purchasing an additional 194,598 shares in the last quarter. LSV Asset Management boosted its stake in Atkore International Group by 24.4% in the third quarter. LSV Asset Management now owns 2,190,104 shares of the company’s stock valued at $49,781,000 after acquiring an additional 429,575 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Atkore International Group by 110.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,003,208 shares of the company’s stock valued at $41,242,000 after acquiring an additional 525,654 shares during the last quarter. Federated Hermes Inc. boosted its stake in Atkore International Group by 21.5% in the third quarter. Federated Hermes Inc. now owns 848,481 shares of the company’s stock valued at $19,287,000 after acquiring an additional 150,184 shares during the last quarter. Finally, Ziegler Capital Management LLC boosted its stake in Atkore International Group by 33.9% in the fourth quarter. Ziegler Capital Management LLC now owns 384,294 shares of the company’s stock valued at $15,798,000 after acquiring an additional 97,250 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on ATKR. Royal Bank of Canada boosted their target price on shares of Atkore International Group from $52.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, February 3rd. Credit Suisse Group boosted their target price on shares of Atkore International Group from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 3rd.

In related news, insider Peter J. Lariviere sold 12,828 shares of the company’s stock in a transaction that occurred on Monday, November 30th. The shares were sold at an average price of $39.45, for a total transaction of $506,064.60. Following the sale, the insider now owns 41,273 shares of the company’s stock, valued at approximately $1,628,219.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark F. Lamps sold 2,106 shares of the stock in a transaction on Friday, November 27th. The stock was sold at an average price of $39.45, for a total transaction of $83,081.70. Following the completion of the transaction, the insider now directly owns 21,023 shares in the company, valued at approximately $829,357.35. The disclosure for this sale can be found here. Insiders have sold a total of 15,258 shares of company stock worth $602,981 over the last 90 days. 1.72% of the stock is currently owned by corporate insiders.

Shares of ATKR stock opened at $67.73 on Tuesday. The stock has a market capitalization of $3.16 billion, a P/E ratio of 21.78 and a beta of 2.47. The company has a current ratio of 3.00, a quick ratio of 2.28 and a debt-to-equity ratio of 2.12. The firm’s 50 day moving average is $52.39 and its 200 day moving average is $35.76. Atkore International Group Inc. has a 12 month low of $10.85 and a 12 month high of $69.42.

Atkore International Group (NYSE:ATKR) last announced its quarterly earnings results on Monday, February 1st. The company reported $1.88 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.68. The company had revenue of $511.08 million for the quarter, compared to analysts’ expectations of $456.79 million. Atkore International Group had a net margin of 8.63% and a return on equity of 47.96%. Atkore International Group’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 EPS.

Atkore International Group Profile

Atkore International Group Inc manufactures and distributes electrical raceway products, and mechanical products and solutions (MP&S) in the United States and internationally. The company offers electrical raceway products, including electrical conduits and fittings, armored cables and fittings, and cable trays and mounting systems and fittings.

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

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