London Co. of Virginia Decreases Stake in Atkore Inc. $ATKR

Key Points

• London Co. of Virginia trimmed its Atkore stake by 4.3% in the fourth quarter, selling 18,693 shares and ending with 411,729 shares valued at about $26.0 million.
• Several analysts remain cautious on ATKR: the stock currently carries a consensus “Hold” rating, though some firms recently raised their price targets and one analyst upgraded the shares to “Buy.”
• Atkore beat quarterly expectations, reporting $1.23 EPS versus $1.00 expected and revenue of $731.4 million, while also announcing a $0.33 quarterly dividend and FY2026 EPS guidance of $5.05 to $5.55.

London Co. of Virginia lessened its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 4.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 411,729 shares of the company's stock after selling 18,693 shares during the quarter. London Co. of Virginia owned about 1.22% of Atkore worth $26,042,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ATKR. Earnest Partners LLC purchased a new position in Atkore during the 4th quarter valued at about $49,571,000. Jefferies Financial Group Inc. purchased a new position in Atkore during the 3rd quarter valued at about $36,525,000. Jacobs Levy Equity Management Inc. purchased a new position in Atkore during the 3rd quarter valued at about $21,214,000. New York State Common Retirement Fund grew its holdings in Atkore by 1,166.1% during the 4th quarter. New York State Common Retirement Fund now owns 345,828 shares of the company's stock valued at $21,874,000 after buying an additional 318,514 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Atkore by 64.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 704,668 shares of the company's stock valued at $44,570,000 after buying an additional 277,433 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ATKR shares. Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Royal Bank Of Canada lifted their target price on Atkore from $71.00 to $82.00 and gave the company a "sector perform" 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. Finally, Citigroup lifted their target price on Atkore from $74.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. 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 data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $81.67.

Insider Buying and Selling

In related news, Director Wilbert W. James, Jr. sold 3,299 shares of the firm'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 value of $242,839.39. Following the sale, the director directly owned 17,063 shares of the company's stock, valued at $1,256,007.43. This trade represents a 16.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Justin A. Kershaw sold 2,799 shares of the firm'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 sale, the director directly owned 18,610 shares in the company, valued at $1,370,998.70. This represents a 13.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.10% of the company's stock.

Atkore Trading Down 0.5%

Shares of ATKR opened at $78.82 on Wednesday. The firm's 50 day simple moving average is $75.65 and its 200 day simple moving average is $68.67. The company has a market capitalization of $2.66 billion, a P/E ratio of -22.02 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 Inc. has a 1-year low of $53.49 and a 1-year high of $90.16.

Atkore (NYSE:ATKR - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.23. The business had revenue of $731.38 million for the quarter, compared to the consensus estimate of $714.18 million. Atkore had a negative net margin of 4.19% and a positive return on equity of 9.22%. Atkore's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $2.04 earnings per share. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Sell-side analysts forecast that Atkore Inc. will post 4.75 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were paid 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 (DPR) is currently -36.87%.

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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