London Co. of Virginia Cuts Stake in Atkore Inc. $ATKR

London Co. of Virginia lowered its position in Atkore Inc. (NYSE:ATKR) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,729 shares of the company’s stock after selling 18,693 shares during the quarter. London Co. of Virginia’s holdings in Atkore were worth $26,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Atkore by 8.1% in the third quarter. Vanguard Group Inc. now owns 3,632,594 shares of the company’s stock worth $227,909,000 after buying an additional 273,466 shares in the last quarter. First Trust Advisors LP boosted its stake in Atkore by 18.7% in the fourth quarter. First Trust Advisors LP now owns 1,385,741 shares of the company’s stock worth $87,648,000 after buying an additional 218,358 shares in the last quarter. American Century Companies Inc. boosted its stake in Atkore by 14.3% in the third quarter. American Century Companies Inc. now owns 1,158,103 shares of the company’s stock worth $72,659,000 after buying an additional 144,844 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Atkore by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,130,477 shares of the company’s stock worth $71,503,000 after buying an additional 94,398 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Atkore by 5.8% in the fourth quarter. LSV Asset Management now owns 960,450 shares of the company’s stock worth $60,748,000 after buying an additional 52,850 shares in the last quarter.

Atkore Stock Performance

Shares of ATKR stock opened at $78.82 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.02 and a current ratio of 2.64. Atkore Inc. has a fifty-two week low of $53.49 and a fifty-two week high of $90.16. The stock has a 50 day moving average price of $75.65 and a two-hundred day moving average price of $68.67. The company has a market capitalization of $2.66 billion, a P/E ratio of -22.02 and a beta of 1.66.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $2.04 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Analysts expect that Atkore Inc. will post 4.75 earnings per share for the current year.

Atkore Dividend Announcement

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

Wall Street Analyst Weigh In

ATKR has been the subject of several research reports. Citigroup upped their target price on Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Royal Bank Of Canada upped their target price on Atkore from $71.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a research report on Friday, May 1st. One 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 given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $81.67.

Insider Activity at Atkore

In other Atkore news, Director Wilbert W. James, Jr. sold 3,299 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $73.61, for a total value of $242,839.39. Following the completion of the sale, the director owned 17,063 shares in the company, valued at approximately $1,256,007.43. The trade was a 16.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justin A. Kershaw sold 2,799 shares of the business’s stock in a transaction that occurred on 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 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 position. The SEC filing for this sale provides additional information. Insiders own 2.10% of the company’s stock.

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.