Bridgeway Capital Management LLC Sells 21,371 Shares of Atkore Inc. $ATKR

Bridgeway Capital Management LLC cut its stake in shares of Atkore Inc. (NYSE:ATKR) by 8.4% in the 4th quarter, HoldingsChannel reports. The firm owned 231,611 shares of the company’s stock after selling 21,371 shares during the period. Bridgeway Capital Management LLC’s holdings in Atkore were worth $14,649,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ATKR. Kestra Investment Management LLC lifted its position in Atkore by 710.9% during the second quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after purchasing an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Atkore by 1,263.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock valued at $32,000 after purchasing an additional 480 shares during the last quarter. Strs Ohio bought a new stake in Atkore during the first quarter valued at approximately $36,000. Jones Financial Companies Lllp lifted its position in Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Atkore in the 4th quarter worth approximately $77,000.

Atkore Stock Down 2.7%

Shares of NYSE ATKR opened at $76.76 on Thursday. The company has a quick ratio of 2.02, a current ratio of 2.64 and a debt-to-equity ratio of 0.59. Atkore Inc. has a 52 week low of $53.49 and a 52 week high of $90.16. The firm’s fifty day moving average is $75.93 and its 200 day moving average is $68.74. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -21.44 and a beta of 1.66.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.00 by $0.23. Atkore had a negative net margin of 4.19% and a positive return on equity of 9.22%. The company had revenue of $731.38 million for the quarter, compared to the consensus estimate of $714.18 million. During the same period in the previous year, the firm earned $2.04 earnings per share. The firm’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. On average, equities research analysts expect that Atkore Inc. will post 4.75 earnings per share for the current year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Atkore’s payout ratio is presently -36.87%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Atkore from $71.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d)” rating on shares of Atkore in a report on Friday, May 1st. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Citigroup boosted their price objective on shares of Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $81.67.

Insider Buying and Selling at Atkore

In related news, Director Wilbert W. James, Jr. sold 3,299 shares of Atkore stock in a transaction on Friday, May 8th. The shares were sold at an average price of $73.61, for a total value of $242,839.39. Following the transaction, the director directly owned 17,063 shares of the company’s stock, valued at $1,256,007.43. The trade was a 16.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Justin A. Kershaw sold 2,799 shares of Atkore stock in a transaction on Friday, May 8th. The stock was sold at an average price of $73.67, for a total transaction of $206,202.33. Following the completion of the transaction, the director directly owned 18,610 shares in the company, valued at approximately $1,370,998.70. The trade was a 13.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.10% of the stock is owned by insiders.

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.