Cibc World Markets Corp Acquires New Holdings in Atkore Inc. (NYSE:ATKR)

Cibc World Markets Corp bought a new position in Atkore Inc. (NYSE:ATKR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,352 shares of the company’s stock, valued at approximately $280,000.

A number of other large investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in shares of Atkore by 3,948.4% during the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after buying an additional 459,200 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after acquiring an additional 134,517 shares during the period. E. Ohman J or Asset Management AB lifted its holdings in Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock valued at $26,569,000 after acquiring an additional 113,263 shares during the period. Bank of New York Mellon Corp boosted its position in Atkore by 80.7% in the fourth quarter. Bank of New York Mellon Corp now owns 246,611 shares of the company’s stock worth $20,580,000 after purchasing an additional 110,107 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Atkore during the 4th quarter valued at about $8,524,000.

Atkore Stock Up 2.1 %

ATKR opened at $64.19 on Wednesday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 6.21 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The firm’s fifty day moving average is $70.55 and its 200 day moving average is $81.32. Atkore Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.05 by $0.45. The business had revenue of $661.60 million for the quarter, compared to the consensus estimate of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business’s revenue was down 17.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.12 earnings per share. On average, sell-side analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 1.99%. Atkore’s payout ratio is 12.39%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ATKR shares. Roth Capital raised shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. KeyCorp decreased their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Roth Mkm started coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 target price (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Finally, Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and lowered their target price for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $103.17.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the sale, the insider now owns 33,760 shares in the company, valued at $2,194,400. The trade was a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.99% of the stock is currently owned by corporate insiders.

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.