UBS Group AG Sells 187,319 Shares of Atkore Inc. $ATKR

UBS Group AG lessened its position in Atkore Inc. (NYSE:ATKR) by 78.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 50,716 shares of the company’s stock after selling 187,319 shares during the period. UBS Group AG’s holdings in Atkore were worth $3,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new position in shares of Atkore during the 3rd quarter worth about $36,525,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Atkore during the 3rd quarter worth about $21,214,000. Vanguard Group Inc. increased its holdings in shares of Atkore by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,632,594 shares of the company’s stock worth $227,909,000 after purchasing an additional 273,466 shares during the period. Bridgeway Capital Management LLC bought a new position in shares of Atkore during the 3rd quarter worth about $15,872,000. Finally, American Century Companies Inc. increased its holdings in shares of Atkore by 14.3% during the 3rd quarter. American Century Companies Inc. now owns 1,158,103 shares of the company’s stock worth $72,659,000 after purchasing an additional 144,844 shares during the period.

Analysts Set New Price Targets

ATKR has been the topic of several research reports. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. 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. 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. Finally, Roth Mkm upped their target price on shares of Atkore from $71.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $81.67.

Insider Transactions at Atkore

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

Atkore Stock Performance

NYSE ATKR opened at $84.48 on Monday. The stock has a market cap of $2.85 billion, a P/E ratio of -23.60 and a beta of 1.67. The company’s 50-day simple moving average is $67.73 and its 200 day simple moving average is $66.68. Atkore Inc. has a twelve month low of $53.49 and a twelve month high of $84.83. 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 (NYSE:ATKR) last posted its 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. The business had revenue of $731.38 million for the quarter, compared to analysts’ expectations of $714.18 million. Atkore had a negative net margin of 4.19% and a positive return on equity of 9.22%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.04 earnings per share. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. As a group, research analysts forecast that Atkore Inc. will post 4.75 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $1.32 dividend on an annualized basis and a yield of 1.6%. Atkore’s payout ratio is presently -36.87%.

Atkore 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.