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

Atkore Inc. (NYSE:ATKR) Director Justin Kershaw sold 2,799 shares of the 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 completion of the transaction, the director owned 18,610 shares in the company, valued at approximately $1,370,998.70. The trade was a 13.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Atkore Price Performance

Shares of NYSE ATKR opened at $74.08 on Friday. The stock’s 50-day simple moving average is $64.96 and its 200-day simple moving average is $66.11. The firm has a market capitalization of $2.50 billion, a PE ratio of -20.69 and a beta of 1.67. Atkore Inc. has a fifty-two week low of $53.49 and a fifty-two week high of $80.06. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.40 and a current ratio of 2.64.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) 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 firm had revenue of $731.38 million during the quarter, compared to the consensus estimate of $714.18 million. During the same period in the prior year, the company posted $2.04 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. As a group, equities research analysts forecast that Atkore Inc. will post 4.71 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $1.32 annualized dividend and a dividend yield of 1.8%. Atkore’s dividend payout ratio is presently -36.87%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ATKR. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a research note on Saturday. Roth Mkm upped their price objective 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a report on Friday, May 1st. Citigroup lifted their target price on Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Royal Bank Of Canada boosted their target price on Atkore from $71.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $81.67.

Hedge Funds Weigh In On Atkore

A number of institutional investors have recently modified their holdings of the business. California State Teachers Retirement System raised its position in Atkore by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 33,067 shares of the company’s stock valued at $2,333,000 after purchasing an additional 214 shares during the last quarter. Adams Wealth Management increased its stake in Atkore by 0.5% in the fourth quarter. Adams Wealth Management now owns 40,726 shares of the company’s stock valued at $2,576,000 after purchasing an additional 220 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Atkore by 15.4% in the second quarter. Osaic Holdings Inc. now owns 1,794 shares of the company’s stock valued at $127,000 after buying an additional 240 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after buying an additional 246 shares during the period. Finally, Covestor Ltd increased its position in Atkore by 18.8% in the 4th quarter. Covestor Ltd now owns 1,779 shares of the company’s stock valued at $112,000 after acquiring an additional 282 shares during the period.

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.