Bridgeway Capital Management LLC Decreases Holdings in Atkore Inc. $ATKR

Bridgeway Capital Management LLC lessened its stake in shares of Atkore Inc. (NYSE:ATKR) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 231,611 shares of the company’s stock after selling 21,371 shares during the period. Bridgeway Capital Management LLC owned about 0.69% of Atkore worth $14,649,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC increased its holdings in Atkore by 710.9% during the second quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock worth $31,000 after buying an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings 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 worth $32,000 after buying an additional 480 shares during the last quarter. Strs Ohio purchased a new stake in Atkore during the first quarter worth about $36,000. Jones Financial Companies Lllp increased its stake in shares of Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after purchasing an additional 246 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Atkore in the fourth quarter worth about $77,000.

Insider Activity at Atkore

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

Wall Street Analyst Weigh In

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

Atkore Price Performance

Shares of NYSE:ATKR opened at $76.76 on Thursday. The company has a 50 day moving average of $75.93 and a 200 day moving average of $68.74. The stock has a market cap of $2.59 billion, a P/E ratio of -21.44 and a beta of 1.66. Atkore Inc. has a 12 month low of $53.49 and a 12 month high of $90.16. The company has a current ratio of 2.64, a quick ratio of 2.02 and a debt-to-equity ratio of 0.59.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.00 by $0.23. The company had revenue of $731.38 million during 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%. Atkore’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.04 earnings per share. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. As a group, sell-side analysts forecast that Atkore Inc. will post 4.75 EPS for the current fiscal year.

Atkore Dividend Announcement

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

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.