Zurcher Kantonalbank Zurich Cantonalbank Lowers Stake in Atkore Inc. (NYSE:ATKR)

Key Points

• Zurcher Kantonalbank significantly reduced its stake in Atkore Inc. by 43.1% during the first quarter, leaving it with 10,208 shares valued at $612,000.
• Several institutional investors have increased their holdings, with Pacer Advisors Inc. raising its stake by an astonishing 43,389.8% this quarter.
• Atkore reported earnings of $2.04 per share in its last quarter, exceeding analysts' estimates, while announcing a quarterly dividend of $0.33 per share.

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 43.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,208 shares of the company's stock after selling 7,717 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Atkore were worth $612,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its stake in shares of Atkore by 97.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock worth $32,000 after purchasing an additional 259 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Atkore by 1,514.7% in the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after buying an additional 515 shares during the period. Versant Capital Management Inc boosted its holdings in Atkore by 358.9% in the 1st quarter. Versant Capital Management Inc now owns 693 shares of the company's stock worth $42,000 after buying an additional 542 shares during the period. Signaturefd LLC boosted its holdings in Atkore by 384.0% in the 1st quarter. Signaturefd LLC now owns 905 shares of the company's stock worth $54,000 after buying an additional 718 shares during the period. Finally, KBC Group NV boosted its holdings in Atkore by 29.5% in the 1st quarter. KBC Group NV now owns 1,881 shares of the company's stock worth $113,000 after buying an additional 429 shares during the period.

Atkore Stock Down 0.0%

Shares of NYSE ATKR traded down $0.01 during mid-day trading on Friday, reaching $54.98. The company had a trading volume of 1,001,005 shares, compared to its average volume of 710,270. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $105.28. The company has a current ratio of 3.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1.85 billion, a P/E ratio of 17.62 and a beta of 2.10. The firm has a 50 day simple moving average of $70.88 and a two-hundred day simple moving average of $67.34.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.32 annualized dividend and a dividend yield of 2.4%. Atkore's dividend payout ratio (DPR) is 42.31%.

Analyst Ratings Changes

Several research firms have commented on ATKR. Royal Bank Of Canada increased their price objective on shares of Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Citigroup reissued a "neutral" rating and set a $80.00 price objective (up previously from $70.00) on shares of Atkore in a report on Monday, June 9th. Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Roth Capital set a $78.00 price target on shares of Atkore and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Atkore in a report on Wednesday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $79.57.

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.