Canada Pension Plan Investment Board Increases Stock Position in Atkore Inc. (NYSE:ATKR)

Canada Pension Plan Investment Board grew its position in Atkore Inc. (NYSE:ATKR - Free Report) by 1,572.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,500 shares of the company's stock after acquiring an additional 127,400 shares during the period. Canada Pension Plan Investment Board owned about 0.39% of Atkore worth $11,307,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Jones Financial Companies Lllp raised its position in shares of Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after purchasing an additional 186 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock valued at $70,000 after acquiring an additional 195 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock valued at $86,000 after acquiring an additional 1,000 shares in the last quarter. KBC Group NV boosted its stake in shares of Atkore by 47.7% in the fourth quarter. KBC Group NV now owns 1,452 shares of the company's stock worth $121,000 after acquiring an additional 469 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Atkore by 88.5% during the fourth quarter. Covestor Ltd now owns 1,889 shares of the company's stock worth $157,000 after purchasing an additional 887 shares in the last quarter.

Atkore Trading Down 1.1 %

ATKR stock traded down $0.70 during mid-day trading on Wednesday, hitting $61.96. 546,757 shares of the company were exchanged, compared to its average volume of 699,154. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $185.42. The firm has a market capitalization of $2.15 billion, a P/E ratio of 6.00 and a beta of 2.02. The business has a fifty day simple moving average of $61.59 and a 200-day simple moving average of $77.15. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. During the same quarter last year, the firm posted $4.12 earnings per share. The business's revenue for the quarter was down 17.1% compared to the same quarter last year. On average, equities research analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.07%. Atkore's payout ratio is 12.39%.

Insider Activity at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the transaction, the insider now owns 33,760 shares in the company, valued at approximately $2,194,400. This represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ATKR shares. Royal Bank of Canada upped their target price on shares of Atkore from $64.00 to $65.00 and gave the stock a "sector perform" rating in a report on Tuesday. Citigroup decreased their target price on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. KeyCorp dropped their price target on Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Loop Capital lowered Atkore from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $75.00.

Atkore Company Profile

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.