13,977 Shares in Atkore Inc. $ATKR Bought by Irenic Capital Management LP

Key Points

• Irenic Capital Management disclosed a new position in Atkore, buying 13,977 shares valued at about $884,000 in the fourth quarter.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating, though Citigroup and RBC both raised price targets, and Wall Street Zen upgraded ATKR to Buy.
• Atkore reported quarterly EPS of $1.23, topping estimates, and revenue of $731.4 million, while the stock was down about 2.7% and insiders recently sold shares.

Irenic Capital Management LP acquired a new stake in Atkore Inc. (NYSE:ATKR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,977 shares of the company's stock, valued at approximately $884,000.

Several other hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in shares of Atkore by 0.7% during the second quarter. California State Teachers Retirement System now owns 33,067 shares of the company's stock worth $2,333,000 after purchasing an additional 214 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Atkore by 15.4% during the second quarter. Osaic Holdings Inc. now owns 1,794 shares of the company's stock worth $127,000 after purchasing an additional 240 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of 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 purchasing an additional 246 shares during the last quarter. Covestor Ltd grew its holdings in shares of Atkore by 18.8% during the fourth quarter. Covestor Ltd now owns 1,779 shares of the company's stock worth $112,000 after purchasing an additional 282 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Atkore by 0.8% during the third quarter. Alliancebernstein L.P. now owns 39,362 shares of the company's stock worth $2,470,000 after purchasing an additional 302 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have issued reports on ATKR. Citigroup raised their price objective on Atkore from $74.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Atkore in a report on Friday, May 1st. Royal Bank Of Canada upped their price target on shares of Atkore from $71.00 to $82.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of 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 assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $81.67.

Atkore Stock Down 2.7%

ATKR stock opened at $76.76 on Thursday. The company has a fifty day moving average price of $75.93 and a 200 day moving average price of $68.74. Atkore Inc. has a 12 month low of $53.49 and a 12 month high of $90.16. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -21.44 and a beta of 1.66. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.64 and a quick ratio of 2.02.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating the consensus estimate 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 firm 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 revenue for the quarter was up 4.2% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Sell-side analysts expect that Atkore Inc. will post 4.75 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors 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 annualized dividend and a yield of 1.7%. Atkore's dividend payout ratio is -36.87%.

Insider Buying and Selling at Atkore

In other Atkore news, Director Wilbert W. James, Jr. sold 3,299 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $73.61, for a total transaction of $242,839.39. Following the completion of the transaction, the director owned 17,063 shares in the company, valued at approximately $1,256,007.43. This represents a 16.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $73.67, for a total transaction of $206,202.33. Following 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. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is owned by corporate insiders.

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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