Atkore Inc. (NYSE:ATKR – Get Free Report)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $78.03 and traded as low as $72.34. Atkore shares last traded at $72.6760, with a volume of 232,395 shares trading hands.
Wall Street Analyst Weigh In
ATKR has been the subject of several research reports. Citigroup boosted their price objective on Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a research note on Friday, May 1st. Royal Bank Of Canada boosted their price target on Atkore from $71.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $81.67.
Check Out Our Latest Report on Atkore
Atkore Stock Down 4.4%
Atkore (NYSE:ATKR – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 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 during the quarter, compared to the consensus estimate of $714.18 million. During the same quarter in the prior year, the firm earned $2.04 EPS. Atkore’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. Equities analysts anticipate that Atkore Inc. will post 4.75 EPS for the current year.
Atkore Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.8%. Atkore’s dividend payout ratio is -36.87%.
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 on Friday, May 8th. The stock was sold at an average price of $73.61, for a total transaction of $242,839.39. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, 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 SEC filing for this sale provides additional information. 2.10% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of ATKR. Jefferies Financial Group Inc. purchased a new stake in shares of Atkore in the third quarter valued at about $36,525,000. SG Americas Securities LLC raised its stake in Atkore by 657.2% during the fourth quarter. SG Americas Securities LLC now owns 32,023 shares of the company’s stock worth $2,025,000 after purchasing an additional 27,794 shares during the period. Rock Point Advisors LLC raised its stake in Atkore by 25.7% during the third quarter. Rock Point Advisors LLC now owns 108,541 shares of the company’s stock worth $6,810,000 after purchasing an additional 22,203 shares during the period. Irenic Capital Management LP acquired a new position in Atkore in the 4th quarter valued at about $884,000. Finally, American Century Companies Inc. boosted its holdings in Atkore by 14.3% in the 3rd quarter. American Century Companies Inc. now owns 1,158,103 shares of the company’s stock valued at $72,659,000 after purchasing an additional 144,844 shares during the last quarter.
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.
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