National Bank of Canada FI Acquires 41,157 Shares of Atkore Inc. (NYSE:ATKR)

National Bank of Canada FI raised its holdings in shares of Atkore Inc. (NYSE:ATKR) by 2,463.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,828 shares of the company’s stock after buying an additional 41,157 shares during the quarter. National Bank of Canada FI owned about 0.12% of Atkore worth $5,663,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Boston Partners boosted its holdings in Atkore by 98.9% in the 4th quarter. Boston Partners now owns 1,197,025 shares of the company’s stock valued at $191,329,000 after purchasing an additional 595,115 shares during the period. Norges Bank bought a new stake in shares of Atkore in the fourth quarter valued at about $68,109,000. Hood River Capital Management LLC acquired a new stake in Atkore during the first quarter worth about $63,900,000. Swedbank AB acquired a new stake in Atkore during the first quarter worth about $47,591,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Atkore by 28.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 973,116 shares of the company’s stock valued at $131,303,000 after acquiring an additional 216,997 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have commented on ATKR. Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. KeyCorp reduced their target price on Atkore from $175.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, B. Riley lowered their price target on shares of Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Atkore presently has an average rating of “Hold” and a consensus price target of $137.00.

Atkore Trading Down 0.9 %

Shares of ATKR opened at $83.00 on Tuesday. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49. The stock has a market cap of $2.98 billion, a PE ratio of 5.17 and a beta of 2.15. Atkore Inc. has a 1 year low of $82.69 and a 1 year high of $194.98. The stock has a 50 day simple moving average of $115.20 and a 200-day simple moving average of $146.13.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. During the same period in the prior year, the company posted $5.13 earnings per share. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, sell-side analysts predict that Atkore Inc. will post 12.69 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a $0.32 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 1.54%. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the completion of the transaction, the insider now owns 28,086 shares in the company, valued at $2,681,370.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.56% of the company’s stock.

Atkore 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.