Atkore Inc. $ATKR Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in shares of Atkore Inc. (NYSE:ATKR) by 44.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 295,838 shares of the company’s stock after selling 239,324 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.88% of Atkore worth $18,561,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new stake in Atkore during the 2nd quarter worth approximately $21,453,000. First Trust Advisors LP lifted its position in shares of Atkore by 13.9% during the second quarter. First Trust Advisors LP now owns 1,757,797 shares of the company’s stock worth $124,013,000 after purchasing an additional 213,858 shares in the last quarter. American Century Companies Inc. lifted its holdings in Atkore by 20.6% in the 2nd quarter. American Century Companies Inc. now owns 1,013,259 shares of the company’s stock worth $71,485,000 after buying an additional 172,754 shares in the last quarter. Orbis Allan Gray Ltd boosted its holdings in Atkore by 45.0% in the second quarter. Orbis Allan Gray Ltd now owns 364,011 shares of the company’s stock valued at $25,681,000 after purchasing an additional 112,981 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Atkore by 50.5% during the 2nd quarter. Federated Hermes Inc. now owns 315,250 shares of the company’s stock valued at $22,241,000 after buying an additional 105,831 shares during the last quarter.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $65.78, for a total transaction of $65,780.00. Following the completion of the sale, the insider owned 35,982 shares of the company’s stock, valued at $2,366,895.96. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by insiders.

Atkore Stock Up 1.1%

Atkore stock opened at $65.42 on Tuesday. The company has a current ratio of 3.42, a quick ratio of 2.40 and a debt-to-equity ratio of 0.54. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $80.06. The firm’s fifty day simple moving average is $67.54 and its 200-day simple moving average is $64.77. The company has a market capitalization of $2.21 billion, a P/E ratio of -47.07 and a beta of 1.54.

Atkore (NYSE:ATKR) last posted its earnings results on Tuesday, February 3rd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.64 by $0.19. Atkore had a negative net margin of 1.63% and a positive return on equity of 11.27%. The firm had revenue of $655.55 million for the quarter, compared to the consensus estimate of $650.09 million. During the same period in the prior year, the business posted $1.63 earnings per share. The business’s quarterly revenue was down .9% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Sell-side analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, February 17th. Atkore’s payout ratio is -94.96%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ATKR. Citigroup lifted their price objective on shares of Atkore from $64.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. CJS Securities raised Atkore to a “strong-buy” rating in a report on Thursday, December 11th. Roth Mkm increased their target price on shares of Atkore from $71.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a research report on Monday, December 29th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Atkore in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.50.

Atkore Company 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.