Canada Pension Plan Investment Board Sells 57,100 Shares of Atkore Inc. $ATKR

Key Points

• The Canada Pension Plan Investment Board has reduced its stake in Atkore Inc. by 42.1%, now owning 78,400 shares worth approximately $4.7 million.
• Several institutional investors, including Gates Capital Management and American Century Companies, have increased their positions in Atkore, with Gates Capital raising theirs by 29.6%.
• Atkore has announced a quarterly dividend of $0.33 per share, resulting in an annualized yield of 2.3%.

Canada Pension Plan Investment Board cut its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 42.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,400 shares of the company's stock after selling 57,100 shares during the period. Canada Pension Plan Investment Board owned about 0.23% of Atkore worth $4,703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Wyoming lifted its position in shares of Atkore by 150.6% during the first quarter. State of Wyoming now owns 11,335 shares of the company's stock worth $680,000 after acquiring an additional 6,812 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of Atkore by 47.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 25,643 shares of the company's stock worth $1,538,000 after purchasing an additional 8,243 shares during the period. Ieq Capital LLC purchased a new position in shares of Atkore in the first quarter worth $1,038,000. Comerica Bank grew its position in Atkore by 28.0% during the first quarter. Comerica Bank now owns 20,859 shares of the company's stock valued at $1,251,000 after buying an additional 4,558 shares during the period. Finally, Quantitative Investment Management LLC acquired a new position in Atkore during the first quarter worth about $614,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ATKR shares. KeyCorp restated a "sector weight" rating on shares of Atkore in a report on Wednesday, August 6th. Wall Street Zen upgraded Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Citigroup reiterated 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. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $79.57.

Atkore Price Performance

Shares of ATKR stock traded down $0.94 on Monday, reaching $58.34. 305,230 shares of the company were exchanged, compared to its average volume of 597,571. The business has a 50-day moving average price of $66.90 and a 200 day moving average price of $65.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.08 and a current ratio of 3.09. Atkore Inc. has a 1 year low of $49.92 and a 1 year high of $105.28. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 18.73 and a beta of 2.16.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Tuesday, August 19th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Atkore's dividend payout ratio (DPR) is presently 42.31%.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $59.37, for a total value of $59,370.00. Following the transaction, the insider owned 31,873 shares in the company, valued at approximately $1,892,300.01. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.99% of the company's stock.

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.