Lazard Asset Management LLC boosted its stake in shares of Atkore Inc. (NYSE:ATKR – Free Report) by 572.2% during the first quarter, HoldingsChannel.com reports. The firm owned 33,496 shares of the company’s stock after acquiring an additional 28,513 shares during the period. Lazard Asset Management LLC’s holdings in Atkore were worth $1,973,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Coliseum Capital Management LLC purchased a new position in shares of Atkore during the 4th quarter valued at $51,189,000. Earnest Partners LLC acquired a new position in shares of Atkore during the 4th quarter worth $49,571,000. Oslo Pensjonsforsikring AS bought a new position in shares of Atkore during the 1st quarter valued at $22,209,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Atkore during the 3rd quarter valued at $21,214,000. Finally, New York State Common Retirement Fund lifted its stake in shares of Atkore by 1,166.1% in the 4th quarter. New York State Common Retirement Fund now owns 345,828 shares of the company’s stock valued at $21,874,000 after purchasing an additional 318,514 shares during the last quarter.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a report on Wednesday. Royal Bank Of Canada set a $76.00 price target on Atkore in a research report on Thursday, July 16th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Citigroup increased their price objective on Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given 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 stock currently has a consensus rating of “Hold” and a consensus target price of $138.33.
Atkore Price Performance
NYSE ATKR opened at $72.90 on Monday. Atkore Inc. has a 1 year low of $53.49 and a 1 year high of $90.16. The company has a fifty day simple moving average of $76.82 and a 200 day simple moving average of $70.81. The company has a current ratio of 2.64, a quick ratio of 2.02 and a debt-to-equity ratio of 0.59. The company has a market cap of $2.46 billion, a P/E ratio of -20.36 and a beta of 1.68.
Atkore (NYSE:ATKR – Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.00 by $0.23. The firm 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 quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.04 EPS. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. On average, sell-side analysts predict that Atkore Inc. will post 4.75 EPS for the current year.
Atkore Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.8%. Atkore’s payout ratio is presently -36.87%.
Insider Transactions at Atkore
In related news, Director Justin A. Kershaw sold 2,799 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $73.61, for a total value 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 position. The SEC filing for this sale provides additional information. Insiders own 2.10% of the company’s stock.
Atkore 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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