Justin Kershaw Sells 2,799 Shares of Atkore (NYSE:ATKR) Stock

Atkore Inc. (NYSE:ATKR) Director Justin Kershaw sold 2,799 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $73.67, for a total value of $206,202.33. Following the transaction, the director directly owned 18,610 shares of the company’s stock, valued at $1,370,998.70. This represents a 13.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Atkore Trading Up 0.2%

Shares of NYSE ATKR opened at $74.08 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.64 and a debt-to-equity ratio of 0.59. Atkore Inc. has a 12 month low of $53.49 and a 12 month high of $80.06. The company has a market cap of $2.50 billion, a price-to-earnings ratio of -20.69 and a beta of 1.67. The business has a fifty day simple moving average of $64.96 and a 200-day simple moving average of $66.11.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.23. Atkore had a positive return on equity of 9.22% and a negative net margin of 4.19%.The business had revenue of $731.38 million during the quarter, compared to analyst estimates of $714.18 million. During the same quarter last year, the company posted $2.04 EPS. Atkore’s revenue for the quarter was up 4.2% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Sell-side analysts predict that Atkore Inc. will post 4.71 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be given a $0.33 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.8%. Atkore’s dividend payout ratio (DPR) is -36.87%.

Wall Street Analysts Forecast Growth

ATKR has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a research report on Friday, May 1st. Royal Bank Of Canada increased their price target on Atkore from $71.00 to $82.00 and gave the company a “sector perform” rating in a research report on Wednesday. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup increased their price target on Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Roth Mkm increased their price target on Atkore from $71.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $81.67.

Institutional Investors Weigh In On Atkore

Several hedge funds have recently bought and sold shares of the business. Oslo Pensjonsforsikring AS purchased a new stake in Atkore in the 1st quarter worth about $22,209,000. Dimensional Fund Advisors LP lifted its stake in Atkore by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company’s stock worth $72,341,000 after acquiring an additional 97,514 shares in the last quarter. SEB Asset Management AB purchased a new stake in Atkore in the 1st quarter worth about $680,000. Aviance Capital Partners LLC lifted its stake in Atkore by 9.7% in the 1st quarter. Aviance Capital Partners LLC now owns 20,794 shares of the company’s stock worth $1,225,000 after acquiring an additional 1,835 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Atkore by 24,530.8% in the 1st quarter. Fifth Third Bancorp now owns 3,202 shares of the company’s stock worth $189,000 after acquiring an additional 3,189 shares in the last quarter.

About Atkore

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.