Caisse de depot et placement du Quebec Acquires Shares of 63,513 Atkore Inc. $ATKR

Caisse de depot et placement du Quebec bought a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 63,513 shares of the company's stock, valued at approximately $4,830,000. Caisse de depot et placement du Quebec owned 0.19% of Atkore at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new stake in shares of Atkore during the 2nd quarter worth about $28,000. Kestra Investment Management LLC boosted its holdings in shares of Atkore by 710.9% during the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company's stock worth $31,000 after buying an additional 391 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Atkore by 1,263.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company's stock valued at $32,000 after buying an additional 480 shares during the last quarter. Strs Ohio bought a new position in Atkore in the 1st quarter valued at about $36,000. Finally, Jones Financial Companies Lllp lifted its position in Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock worth $39,000 after acquiring an additional 246 shares during the last quarter.

Insider Activity

In related news, insider Mark F. Lamps sold 300 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $93.75, for a total value of $28,125.00. Following the transaction, the insider owned 35,803 shares in the company, valued at approximately $3,356,531.25. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company's stock.

Atkore Trading Up 0.0%

Shares of ATKR stock opened at $93.67 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59. The stock has a market cap of $3.16 billion, a P/E ratio of -19.47 and a beta of 1.68. The stock has a 50 day simple moving average of $81.75 and a 200 day simple moving average of $74.07. Atkore Inc. has a 1 year low of $53.75 and a 1 year high of $94.14.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.39. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.The firm had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. During the same quarter last year, the company earned $2.17 EPS. On average, research analysts predict that Atkore Inc. will post 5.15 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 18th. Atkore's dividend payout ratio is -27.44%.

Analyst Ratings Changes

Several research firms recently weighed in on ATKR. Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a report on Sunday, July 26th. Citigroup boosted their target price on shares of Atkore from $74.00 to $86.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Roth Capital downgraded shares of Atkore from a "buy" rating to a "neutral" rating and upped their price target for the company from $85.00 to $92.00 in a research note on Tuesday, August 4th. Royal Bank Of Canada set a $76.00 price target on shares of Atkore in a research note on Thursday, July 16th. Finally, Weiss Ratings raised shares of Atkore from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $143.33.

Atkore Company Profile

Atkore International Group Inc NYSE: ATKR is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company's electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.

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