The Manufacturers Life Insurance Company Purchases Shares of 17,293 Atkore Inc. $ATKR

The Manufacturers Life Insurance Company acquired a new position in Atkore Inc. (NYSE:ATKR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,293 shares of the company’s stock, valued at approximately $1,315,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Atkore at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in shares of Atkore during the 2nd quarter valued at $28,000. Kestra Investment Management LLC increased its stake in Atkore by 710.9% in the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock worth $31,000 after buying an additional 391 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Atkore by 1,263.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock valued at $32,000 after acquiring an additional 480 shares during the period. Strs Ohio bought a new stake in Atkore during the first quarter valued at about $36,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after acquiring an additional 246 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ATKR shares. Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Weiss Ratings raised Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Roth Capital cut Atkore from a “buy” rating to a “neutral” rating and boosted their price target 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 target on Atkore in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $143.33.

Atkore Stock Up 0.1%

ATKR opened at $93.77 on Friday. The firm has a 50-day simple moving average of $83.21 and a two-hundred day simple moving average of $75.01. Atkore Inc. has a 52 week low of $53.75 and a 52 week high of $94.14. The company has a market capitalization of $3.17 billion, a PE ratio of -19.49 and a beta of 1.68. The company has a quick ratio of 2.04, a current ratio of 2.73 and a debt-to-equity ratio of 0.59.

Atkore (NYSE:ATKR) last issued its earnings results on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.39. The firm had revenue of $794.80 million for the quarter, compared to analysts’ expectations of $756.23 million. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.During the same period in the previous year, the firm posted $2.17 earnings per share. Analysts forecast that Atkore Inc. will post 5.15 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. Atkore’s payout ratio is presently -27.44%.

Insider Transactions at Atkore

In other news, insider Mark Lamps sold 300 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 35,803 shares of the company’s stock, valued at $3,356,531.25. This represents a 0.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by insiders.

Atkore 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.