Cibc World Market Inc. Boosts Stock Position in Atlas Corp. (NYSE:ATCO)

Cibc World Market Inc. lifted its position in shares of Atlas Corp. (NYSE:ATCOGet Rating) by 33.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,409 shares of the company’s stock after buying an additional 3,866 shares during the period. Cibc World Market Inc.’s holdings in Atlas were worth $165,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ATCO. Envestnet Asset Management Inc. raised its position in Atlas by 2.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 384,646 shares of the company’s stock worth $5,647,000 after purchasing an additional 10,159 shares during the period. DDD Partners LLC lifted its stake in shares of Atlas by 31.0% in the 1st quarter. DDD Partners LLC now owns 1,308,331 shares of the company’s stock valued at $19,206,000 after acquiring an additional 309,524 shares during the last quarter. National Bank of Canada FI boosted its holdings in Atlas by 6,527.0% during the 1st quarter. National Bank of Canada FI now owns 19,881 shares of the company’s stock valued at $292,000 after acquiring an additional 19,581 shares during the period. Qube Research & Technologies Ltd bought a new position in Atlas during the 1st quarter worth approximately $428,000. Finally, Swiss National Bank increased its stake in Atlas by 8.0% in the 1st quarter. Swiss National Bank now owns 205,800 shares of the company’s stock worth $3,021,000 after purchasing an additional 15,300 shares during the period. Institutional investors own 68.75% of the company’s stock.

Atlas Price Performance

ATCO opened at $15.39 on Friday. The stock’s 50 day moving average price is $14.76 and its 200-day moving average price is $13.30. Atlas Corp. has a 52-week low of $10.13 and a 52-week high of $16.23. The stock has a market capitalization of $3.81 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 2.39 and a beta of 1.05. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.51 and a current ratio of 0.66.

Atlas (NYSE:ATCOGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Atlas had a net margin of 37.73% and a return on equity of 12.25%. The company had revenue of $439.60 million for the quarter, compared to analysts’ expectations of $436.82 million. On average, equities research analysts predict that Atlas Corp. will post 1.61 EPS for the current year.

Atlas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Thursday, October 20th were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, October 19th. This represents a $0.50 annualized dividend and a yield of 3.25%. Atlas’s dividend payout ratio (DPR) is presently 24.27%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. B. Riley lowered Atlas from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $15.50 in a research note on Tuesday, November 1st. BMO Capital Markets increased their price target on shares of Atlas from $14.45 to $15.50 and gave the company a “market perform” rating in a research report on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Atlas has an average rating of “Hold” and an average price target of $14.00.

About Atlas

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Atlas Corp. operates as an asset manager and operator of containerships. The company, through its subsidiaries, operates as an independent charter owner and manager of containerships. The company charters its containerships under long-term and fixed-rate time charters to various container liner companies.

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Institutional Ownership by Quarter for Atlas (NYSE:ATCO)

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