The Manufacturers Life Insurance Company Acquires 468 Shares of Atkore Inc. (NYSE:ATKR)

The Manufacturers Life Insurance Company grew its holdings in Atkore Inc. (NYSE:ATKR) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,930 shares of the company’s stock after buying an additional 468 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Atkore worth $2,959,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Mather Group LLC. lifted its holdings in Atkore by 895.7% during the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after buying an additional 421 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Atkore by 829.9% in the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after acquiring an additional 805 shares during the last quarter. Kapitalo Investimentos Ltda boosted its holdings in Atkore by 2,658.8% in the fourth quarter. Kapitalo Investimentos Ltda now owns 938 shares of the company’s stock valued at $150,000 after acquiring an additional 904 shares during the last quarter. Summit Trail Advisors LLC increased its position in Atkore by 32.1% in the second quarter. Summit Trail Advisors LLC now owns 1,549 shares of the company’s stock worth $209,000 after purchasing an additional 376 shares during the period. Finally, Benjamin Edwards Inc. raised its holdings in Atkore by 20.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,594 shares of the company’s stock worth $215,000 after purchasing an additional 274 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have recently issued reports on ATKR. KeyCorp reduced their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Royal Bank of Canada cut shares of Atkore from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. Loop Capital dropped their target price on shares of Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, B. Riley reduced their price target on Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Atkore presently has a consensus rating of “Moderate Buy” and an average price target of $131.60.

Atkore Trading Down 2.0 %

ATKR opened at $84.45 on Wednesday. The firm’s fifty day moving average is $92.76 and its two-hundred day moving average is $133.35. The firm has a market cap of $3.08 billion, a PE ratio of 5.26 and a beta of 2.14. Atkore Inc. has a twelve month low of $80.11 and a twelve month high of $194.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.28. The business had revenue of $822.40 million during the quarter, compared to analysts’ expectations of $830.16 million. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.13 EPS. Equities research analysts anticipate that Atkore Inc. will post 12.69 EPS for the current year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Tuesday, August 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Insider Activity at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $47,735.00. Following the sale, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.56% of the stock is owned by 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.