EDENTREE ASSET MANAGEMENT Ltd Purchases 33,625 Shares of Atkore Inc. $ATKR

EDENTREE ASSET MANAGEMENT Ltd increased its position in Atkore Inc. (NYSE:ATKR) by 69.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,800 shares of the company’s stock after buying an additional 33,625 shares during the period. Atkore accounts for 1.6% of EDENTREE ASSET MANAGEMENT Ltd’s portfolio, making the stock its 25th largest holding. EDENTREE ASSET MANAGEMENT Ltd owned 0.24% of Atkore worth $5,770,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC bought a new stake in Atkore in the second quarter worth approximately $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Atkore during the 2nd quarter valued at $28,000. Strs Ohio acquired a new stake in shares of Atkore in the 1st quarter valued at $36,000. Jones Financial Companies Lllp boosted its holdings in Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after purchasing an additional 246 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in Atkore in the second quarter worth $97,000.

Atkore Trading Up 2.4%

Shares of NYSE:ATKR opened at $64.94 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.13 and a current ratio of 3.05. The stock’s 50-day moving average is $65.54 and its 200-day moving average is $65.79. The company has a market cap of $2.19 billion, a P/E ratio of -124.87 and a beta of 1.57. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $90.66.

Atkore (NYSE:ATKR) last announced its earnings results on Wednesday, November 19th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.61). The business had revenue of $752.01 million for the quarter, compared to the consensus estimate of $733.61 million. Atkore had a negative net margin of 0.53% and a positive return on equity of 12.98%. Atkore’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.43 EPS. Equities research analysts predict that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Friday, December 5th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. Atkore’s dividend payout ratio is currently -253.85%.

Analyst Ratings Changes

Several equities analysts have weighed in on ATKR shares. Weiss Ratings restated a “sell (d)” rating on shares of Atkore in a report on Monday. Roth Capital lowered their price objective on Atkore from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Citigroup cut their price objective on Atkore from $66.00 to $64.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Atkore in a research report on Friday, November 14th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Atkore has a consensus rating of “Hold” and a consensus price target of $74.00.

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $64.75, for a total value of $64,750.00. Following the sale, the insider owned 29,923 shares in the company, valued at approximately $1,937,514.25. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.99% of the company’s stock.

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.