SEB Asset Management AB Invests $680,000 in Atkore Inc. $ATKR

SEB Asset Management AB acquired a new stake in shares of Atkore Inc. (NYSE:ATKR) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 11,545 shares of the company’s stock, valued at approximately $680,000.

A number of other institutional investors have also recently made changes to their positions in ATKR. Coliseum Capital Management LLC purchased a new position in Atkore during the 4th quarter worth $51,189,000. Earnest Partners LLC acquired a new position in Atkore during the 4th quarter valued at about $49,571,000. Jacobs Levy Equity Management Inc. purchased a new stake in Atkore in the third quarter valued at about $21,214,000. New York State Common Retirement Fund raised its stake in Atkore by 1,166.1% in the fourth quarter. New York State Common Retirement Fund now owns 345,828 shares of the company’s stock valued at $21,874,000 after buying an additional 318,514 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Atkore in the fourth quarter worth about $18,785,000.

Atkore Trading Up 4.6%

Shares of NYSE:ATKR opened at $76.44 on Friday. 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 business has a 50-day moving average price of $77.10 and a 200-day moving average price of $70.56. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -21.35 and a beta of 1.68.

Atkore (NYSE:ATKR) last released 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 business had revenue of $731.38 million for the quarter, compared to the consensus estimate of $714.18 million. Atkore had a negative net margin of 4.19% and a positive return on equity of 9.22%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.04 EPS. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Equities analysts predict that Atkore Inc. will post 4.75 EPS for the current year.

Atkore Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada set a $76.00 price target on Atkore in a research note on Thursday, July 16th. Wall Street Zen lowered shares of Atkore from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. 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. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $138.33.

Insider Buying and Selling at Atkore

In other Atkore news, Director Justin A. Kershaw sold 2,799 shares of the company’s stock in a transaction 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 sale, the director directly owned 18,610 shares of the company’s stock, valued at approximately $1,370,998.70. This represents a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $73.61, for a total value of $242,839.39. Following the sale, the director directly owned 17,063 shares in the company, valued at $1,256,007.43. This represents a 16.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is currently owned by corporate insiders.

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.