Canada Pension Plan Investment Board Has $11.31 Million Stake in Atkore Inc. (NYSE:ATKR)

Canada Pension Plan Investment Board boosted its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 1,572.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,500 shares of the company's stock after buying an additional 127,400 shares during the period. Canada Pension Plan Investment Board owned approximately 0.39% of Atkore worth $11,307,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred 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 transaction, the insider now directly owns 33,760 shares of the company's stock, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.99% of the stock is owned by company insiders.

Atkore Stock Performance

Shares of Atkore stock traded down $0.42 during trading on Friday, reaching $64.08. The company's stock had a trading volume of 275,125 shares, compared to its average volume of 699,068. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The business's 50-day moving average price is $61.31 and its 200-day moving average price is $76.86. Atkore Inc. has a 52 week low of $49.92 and a 52 week high of $185.42. The firm has a market cap of $2.23 billion, a PE ratio of 6.20 and a beta of 2.02.

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

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.00%. Atkore's payout ratio is 12.39%.

Analysts Set New Price Targets

ATKR has been the topic of several analyst reports. Loop Capital lowered shares of Atkore from a "buy" rating to a "hold" rating and dropped their price target for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Royal Bank of Canada upped their target price on shares of Atkore from $64.00 to $65.00 and gave the company a "sector perform" rating in a report on Tuesday. KeyCorp reduced their price target on Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Citigroup dropped their price objective on Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.