Atkore Inc. (NYSE:ATKR – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $81.63 and last traded at $80.9850, with a volume of 144575 shares changing hands. The stock had previously closed at $76.18.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the company. Citigroup upped their price objective on Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings restated a “sell (d)” rating on shares of Atkore in a research report on Friday, May 1st. Royal Bank Of Canada upped their price objective on Atkore from $71.00 to $82.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Roth Mkm upped their price objective on Atkore from $71.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, Atkore currently has an average rating of “Hold” and a consensus price target of $81.67.
Read Our Latest Report on ATKR
Atkore Price Performance
Atkore (NYSE:ATKR – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.23. Atkore had a positive return on equity of 9.22% and a negative net margin of 4.19%.The firm had revenue of $731.38 million for the quarter, compared to the consensus estimate of $714.18 million. During the same period in the prior year, the business posted $2.04 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. As a group, equities research analysts forecast that Atkore Inc. will post 4.75 EPS for the current fiscal year.
Atkore Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, May 19th. This represents a $1.32 annualized dividend and a yield of 1.6%. Atkore’s dividend payout ratio is -36.87%.
Insider Activity
In related news, 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 transaction of $242,839.39. Following the transaction, the director directly owned 17,063 shares in the company, valued at approximately $1,256,007.43. This represents a 16.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Justin A. Kershaw sold 2,799 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $73.67, for a total value of $206,202.33. Following the transaction, the director owned 18,610 shares in the company, valued at $1,370,998.70. This trade represents a 13.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.10% of the company’s stock.
Hedge Funds Weigh In On Atkore
Several large investors have recently added to or reduced their stakes in ATKR. Kestra Investment Management LLC lifted its position 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 period. Caitong International Asset Management Co. Ltd lifted its position 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 period. Strs Ohio purchased a new position in Atkore during the first quarter worth about $36,000. Jones Financial Companies Lllp lifted its position in Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after buying an additional 246 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in Atkore during the fourth quarter worth about $77,000.
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.
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