Atkore Inc. $ATKR Shares Bought by Empowered Funds LLC

Empowered Funds LLC raised its position in Atkore Inc. (NYSE:ATKR) by 8.3% during the first quarter, HoldingsChannel.com reports. The firm owned 133,516 shares of the company’s stock after buying an additional 10,267 shares during the quarter. Empowered Funds LLC’s holdings in Atkore were worth $7,865,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Coliseum Capital Management LLC purchased a new stake in shares of Atkore during the 4th quarter worth about $51,189,000. Earnest Partners LLC purchased a new position in Atkore in the fourth quarter valued at approximately $49,571,000. Oslo Pensjonsforsikring AS acquired a new position in Atkore during the first quarter valued at approximately $22,209,000. Jacobs Levy Equity Management Inc. acquired a new position in Atkore during the third quarter valued at approximately $21,214,000. Finally, New York State Common Retirement Fund lifted its position in Atkore by 1,166.1% during 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 in the last quarter.

Atkore Stock Up 2.7%

NYSE ATKR opened at $72.90 on Friday. The stock has a market cap of $2.46 billion, a PE ratio of -20.36 and a beta of 1.68. Atkore Inc. has a fifty-two week low of $53.49 and a fifty-two week high of $90.16. The business has a 50 day moving average price of $76.82 and a two-hundred day moving average price of $70.79. 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 quarterly earnings data 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 negative net margin of 4.19% and a positive return on equity of 9.22%. The company had revenue of $731.38 million for the quarter, compared to analyst estimates of $714.18 million. During the same quarter last year, the firm posted $2.04 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. As a group, sell-side analysts predict 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 will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 18th. Atkore’s dividend payout ratio is presently -36.87%.

Insider Activity

In other news, Director Wilbert W. James, Jr. sold 3,299 shares of Atkore stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $73.61, for a total transaction of $242,839.39. Following the sale, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justin A. Kershaw sold 2,799 shares of Atkore stock in a transaction that occurred on Friday, May 8th. The stock was 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 in the company, valued at $1,370,998.70. This represents a 13.07% 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 owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ATKR. Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a research report on Wednesday. Citigroup lifted their target price on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Finally, Royal Bank Of Canada set a $76.00 price target on Atkore in a report on Thursday, July 16th. One 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 given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $138.33.

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.