Royal Bank of Canada Has $781,000 Stock Holdings in Atkore Inc. $ATKR

Royal Bank of Canada reduced its stake in Atkore Inc. (NYSE:ATKR) by 32.0% in the 1st quarter, HoldingsChannel reports. The firm owned 13,289 shares of the company’s stock after selling 6,268 shares during the quarter. Royal Bank of Canada’s holdings in Atkore were worth $781,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ATKR. Jones Financial Companies Lllp grew its stake in shares of Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after buying an additional 246 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Atkore by 15.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company’s stock worth $7,009,000 after acquiring an additional 16,028 shares in the last quarter. Intech Investment Management LLC grew its stake in Atkore by 59.7% in the first quarter. Intech Investment Management LLC now owns 29,363 shares of the company’s stock valued at $1,761,000 after acquiring an additional 10,972 shares during the period. Strs Ohio acquired a new stake in Atkore in the first quarter valued at approximately $36,000. Finally, Norges Bank bought a new stake in shares of Atkore during the second quarter valued at approximately $467,000.

Wall Street Analysts Forecast Growth

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

Atkore Stock Performance

Shares of ATKR opened at $93.62 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.04 and a current ratio of 2.73. The stock has a 50 day moving average price of $80.32 and a two-hundred day moving average price of $73.19. The firm has a market capitalization of $3.16 billion, a P/E ratio of -19.46 and a beta of 1.68. Atkore Inc. has a 52 week low of $53.75 and a 52 week high of $94.14.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Monday, August 3rd. The company reported $1.92 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $756.23 million. During the same period in the prior year, the business posted $2.17 earnings per share. Equities analysts forecast that Atkore Inc. will post 5.15 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Atkore’s dividend payout ratio is presently -27.44%.

Insider Buying and Selling

In other Atkore 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 transaction of $28,125.00. Following the transaction, the insider directly owned 35,803 shares in the company, valued at approximately $3,356,531.25. This trade represents a 0.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

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.