First Trust Advisors LP Has $72.27 Million Stock Holdings in Atkore Inc. $ATKR

Key Points

• First Trust Advisors LP cut its Atkore stake by 11.5% in the first quarter, but still held 1.23 million shares worth about $72.27 million at quarter-end.
• Analyst sentiment on Atkore remains mixed: the stock has a Hold consensus rating, with a consensus price target of $138.33, while recent moves included a Citigroup target increase to $86 and a Wall Street Zen upgrade to buy.
• Atkore reported better-than-expected quarterly earnings of $1.23 per share on revenue of $731.38 million, and it also paid a quarterly dividend of $0.33 per share for a 1.7% annualized yield.

First Trust Advisors LP trimmed its position in Atkore Inc. (NYSE:ATKR - Free Report) by 11.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,226,840 shares of the company's stock after selling 158,901 shares during the period. First Trust Advisors LP owned approximately 3.63% of Atkore worth $72,273,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC grew its stake in Atkore by 710.9% in the second quarter. Kestra Investment Management LLC now owns 446 shares of the company's stock valued at $31,000 after acquiring an additional 391 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of 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 purchasing an additional 480 shares during the period. Strs Ohio bought a new position in shares of Atkore in the 1st quarter worth $36,000. Jones Financial Companies Lllp lifted its holdings in shares of Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock worth $39,000 after purchasing an additional 246 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Atkore in the 4th quarter valued at $77,000.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Atkore from $74.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a report on Thursday, July 16th. Weiss Ratings reissued a "sell (d)" rating on shares of Atkore in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a report on Sunday. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $138.33.

Insider Activity

In other Atkore 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 completion of the sale, the director owned 17,063 shares in the company, valued at approximately $1,256,007.43. This trade represents a 16.20% decrease in their position. 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 Atkore stock in a transaction that occurred 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 directly owned 18,610 shares in the company, valued at approximately $1,370,998.70. This represents a 13.07% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.10% of the company's stock.

Atkore Price Performance

ATKR opened at $76.44 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.64 and a quick ratio of 2.02. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -21.35 and a beta of 1.68. The firm's fifty day moving average price is $77.10 and its two-hundred day moving average price is $70.56. Atkore Inc. has a 1 year low of $53.49 and a 1 year high of $90.16.

Atkore (NYSE:ATKR - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $714.18 million. During the same quarter in the prior year, the business posted $2.04 EPS. The business's revenue 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, analysts anticipate that Atkore Inc. will post 4.75 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Atkore's dividend payout ratio is presently -36.87%.

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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