Canada Pension Plan Investment Board Has $4.70 Million Position in 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 reduced its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 42.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,400 shares of the company's stock after selling 57,100 shares during the period. Canada Pension Plan Investment Board owned 0.23% of Atkore worth $4,703,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Atkore by 97.0% during the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock worth $32,000 after purchasing an additional 259 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Atkore by 1,514.7% during the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after purchasing an additional 515 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Atkore in the first quarter worth about $37,000. Versant Capital Management Inc increased its stake in shares of Atkore by 358.9% during the first quarter. Versant Capital Management Inc now owns 693 shares of the company's stock valued at $42,000 after purchasing an additional 542 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Atkore by 384.0% during the 1st quarter. Signaturefd LLC now owns 905 shares of the company's stock worth $54,000 after acquiring an additional 718 shares during the last quarter.

Atkore Stock Performance

Shares of ATKR stock traded down $1.00 during mid-day trading on Tuesday, hitting $57.52. The stock had a trading volume of 79,939 shares, compared to its average volume of 595,873. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.09 and a quick ratio of 2.08. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $105.28. The company's 50-day simple moving average is $66.66 and its 200-day simple moving average is $65.02. The firm has a market cap of $1.94 billion, a PE ratio of 18.47 and a beta of 2.16.

Atkore Announces Dividend

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

Insider Activity at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the business's 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 completion of the transaction, the insider owned 31,873 shares of the company's stock, valued at $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 is available at the SEC website. 1.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ATKR has been the topic of a number of research reports. Citigroup restated a "neutral" rating and issued a $80.00 target price (up from $70.00) on shares of Atkore in a report on Monday, June 9th. KeyCorp reaffirmed a "sector weight" rating on shares of Atkore in a report on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Two research 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.com, Atkore has a consensus rating of "Hold" and an average target price 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.