Jefferies Financial Group Inc. Has $1.06 Million Stock Position in Atkore Inc. $ATKR

Key Points

• Jefferies Financial Group cut its Atkore stake by 97.1% in the fourth quarter, selling 565,431 shares and leaving it with 16,737 shares valued at about $1.06 million.
• Insiders were also selling: directors Justin A. Kershaw and Wilbert W. James, Jr. both reduced their holdings on May 8, while insiders as a group own 2.10% of the stock.
• Atkore beat quarterly earnings expectations, reporting EPS of $1.23 and revenue of $731.38 million, and it also announced a $0.33 quarterly dividend. Analysts currently have a consensus Hold rating with an average price target of $81.67.

Jefferies Financial Group Inc. lowered its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 97.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,737 shares of the company's stock after selling 565,431 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Atkore were worth $1,059,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Atkore by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,632,594 shares of the company's stock valued at $227,909,000 after purchasing an additional 273,466 shares during the period. American Century Companies Inc. lifted its stake in shares of Atkore by 14.3% in the 3rd quarter. American Century Companies Inc. now owns 1,158,103 shares of the company's stock valued at $72,659,000 after purchasing an additional 144,844 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Atkore by 1.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,036,079 shares of the company's stock valued at $64,998,000 after purchasing an additional 18,951 shares during the period. LSV Asset Management lifted its stake in shares of Atkore by 5.8% in the 4th quarter. LSV Asset Management now owns 960,450 shares of the company's stock valued at $60,748,000 after purchasing an additional 52,850 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Atkore by 3.0% in the 2nd quarter. Bank of America Corp DE now owns 450,186 shares of the company's stock valued at $31,761,000 after purchasing an additional 13,061 shares during the period.

Insider Buying and Selling

In other Atkore news, Director Justin A. Kershaw sold 2,799 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $73.67, for a total transaction of $206,202.33. Following the completion of the transaction, the director directly owned 18,610 shares in the company, valued at $1,370,998.70. The trade was a 13.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 17,063 shares of the company's stock, valued at approximately $1,256,007.43. This represents a 16.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ATKR shares. Weiss Ratings reissued a "sell (d)" rating on shares of Atkore in a research note on Friday, May 1st. Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Roth Mkm increased their price target on Atkore from $71.00 to $77.00 and gave the company a "buy" rating in a research note on Wednesday, February 4th. Citigroup increased their price target on Atkore from $74.00 to $86.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada raised their price objective on Atkore from $71.00 to $82.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $81.67.

Atkore Stock Performance

Shares of Atkore stock opened at $82.29 on Friday. The stock's fifty day simple moving average is $69.91 and its 200 day simple moving average is $67.14. The company has a market capitalization of $2.78 billion, a PE ratio of -22.99 and a beta of 1.67. The company has a current ratio of 2.64, a quick ratio of 2.02 and a debt-to-equity ratio of 0.59. Atkore Inc. has a 12 month low of $53.49 and a 12 month high of $90.16.

Atkore (NYSE:ATKR - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $714.18 million. During the same quarter in the prior year, the company earned $2.04 EPS. The company's revenue was up 4.2% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. On average, research analysts predict that Atkore Inc. will post 4.75 EPS for the current year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, May 19th. Atkore's 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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