Atkore Inc. $ATKR Shares Sold by Rock Point Advisors LLC

Key Points

• Rock Point Advisors LLC reduced its Atkore stake by 21.7% in the fourth quarter, selling 23,539 shares and leaving it with 85,002 shares worth about $5.38 million.
• Atkore’s latest earnings beat estimates, with quarterly EPS of $1.23 versus $1.00 expected and revenue of $731.38 million above forecasts, though results were down from the prior year.
• Wall Street sentiment is mixed: analysts currently rate the stock an average of “Hold,” with a consensus target price of $81.67, while the company also announced a quarterly dividend of $0.33 per share.

Rock Point Advisors LLC cut its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 21.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,002 shares of the company's stock after selling 23,539 shares during the quarter. Rock Point Advisors LLC owned about 0.25% of Atkore worth $5,376,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Atkore by 8.1% in the third quarter. Vanguard Group Inc. now owns 3,632,594 shares of the company's stock valued at $227,909,000 after acquiring an additional 273,466 shares in the last quarter. American Century Companies Inc. raised its holdings in Atkore by 14.3% in the third quarter. American Century Companies Inc. now owns 1,158,103 shares of the company's stock valued at $72,659,000 after acquiring an additional 144,844 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Atkore by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,036,079 shares of the company's stock valued at $64,998,000 after acquiring an additional 18,951 shares in the last quarter. LSV Asset Management raised its holdings in Atkore by 2.2% in the third quarter. LSV Asset Management now owns 907,600 shares of the company's stock valued at $56,943,000 after acquiring an additional 19,800 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in Atkore in the third quarter valued at $36,525,000.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ATKR shares. Citigroup boosted their target price on shares of Atkore from $74.00 to $86.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada boosted their target price on shares of Atkore from $71.00 to $82.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 6th. Roth Mkm boosted their target price on shares of Atkore from $71.00 to $77.00 and gave the company a "buy" rating in a research note on Wednesday, February 4th. Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Atkore in a research note on Friday, May 1st. One 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, Atkore presently has an average rating of "Hold" and an average target price of $81.67.

Atkore Stock Down 0.8%

ATKR stock opened at $74.07 on Wednesday. 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 Inc. has a fifty-two week low of $53.49 and a fifty-two week high of $80.06. The firm's 50-day simple moving average is $65.52 and its 200 day simple moving average is $66.27. The stock has a market cap of $2.50 billion, a PE ratio of -20.69 and a beta of 1.67.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, topping 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 business had revenue of $731.38 million for the quarter, compared to analysts' expectations of $714.18 million. During the same quarter last year, the company earned $2.04 EPS. The company'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, sell-side analysts predict that Atkore Inc. will post 4.71 EPS for the current year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Atkore's dividend payout ratio (DPR) is -36.87%.

Insider Buying and Selling

In related news, Director Wilbert W. James, Jr. sold 3,299 shares of the stock in a transaction dated 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 $1,256,007.43. This trade represents a 16.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $206,202.33. Following the completion of the sale, the director directly owned 18,610 shares in the company, valued at approximately $1,370,998.70. This trade represents a 13.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,098 shares of company stock valued at $514,822 in the last quarter. Company insiders own 2.10% of the company's stock.

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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