Connor Clark & Lunn Investment Management Ltd. Sells 21,828 Shares of Atkore Inc. (NYSE:ATKR)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Atkore Inc. (NYSE:ATKR) by 21.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,352 shares of the company’s stock after selling 21,828 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.23% of Atkore worth $6,705,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its position in Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after acquiring an additional 186 shares during the last quarter. Quarry LP lifted its position in shares of Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after purchasing an additional 208 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after purchasing an additional 195 shares during the last quarter. KBC Group NV grew its position in Atkore by 47.7% in the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after purchasing an additional 469 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Atkore in the 3rd quarter valued at $143,000.

Atkore Trading Up 3.2 %

Shares of Atkore stock opened at $64.55 on Friday. Atkore Inc. has a 1 year low of $55.91 and a 1 year high of $194.98. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 6.25 and a beta of 2.22. The business has a fifty day simple moving average of $73.29 and a two-hundred day simple moving average of $82.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.05 by $0.45. The business had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. Atkore’s revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.12 EPS. Research analysts forecast that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 1.98%. Atkore’s payout ratio is currently 12.39%.

Insider Buying and Selling at Atkore

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

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of recent research reports. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Roth Mkm initiated coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. Roth Capital raised Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Finally, Loop Capital downgraded shares of Atkore from a “buy” rating to a “hold” rating and lowered their target price for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Atkore has a consensus rating of “Moderate Buy” and an average target price of $103.17.

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.