LSV Asset Management Raises Stock Holdings in Atkore Inc. $ATKR

Key Points

• LSV Asset Management increased its Atkore stake by 5.8% in the fourth quarter, ending with 960,450 shares valued at about $60.7 million.
• Recent analyst sentiment on ATKR is mixed, with the consensus rating at Hold and an average target price of $81.67. Individual firms have issued upgrades and price-target increases, while Weiss Ratings reiterated a sell rating.
• Atkore reported better-than-expected quarterly results, posting EPS of $1.23 versus the $1.00 estimate and revenue of $731.38 million, and it also announced a quarterly dividend of $0.33 per share.

LSV Asset Management grew its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 960,450 shares of the company's stock after acquiring an additional 52,850 shares during the quarter. LSV Asset Management owned about 2.85% of Atkore worth $60,748,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. purchased a new position in Atkore during the third quarter worth about $36,525,000. SG Americas Securities LLC lifted its position in Atkore by 657.2% during the fourth quarter. SG Americas Securities LLC now owns 32,023 shares of the company's stock worth $2,025,000 after buying an additional 27,794 shares during the period. Allianz Asset Management GmbH lifted its position in Atkore by 359.7% during the third quarter. Allianz Asset Management GmbH now owns 37,695 shares of the company's stock worth $2,365,000 after buying an additional 29,495 shares during the period. Ruffer LLP purchased a new position in Atkore during the third quarter worth about $2,813,000. Finally, Rock Point Advisors LLC lifted its position in Atkore by 25.7% during the third quarter. Rock Point Advisors LLC now owns 108,541 shares of the company's stock worth $6,810,000 after buying an additional 22,203 shares during the period.

Analyst Ratings Changes

Several equities analysts recently weighed in on ATKR shares. Wall Street Zen upgraded Atkore from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Citigroup increased their target price on Atkore from $74.00 to $86.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Roth Mkm increased their target price on Atkore from $71.00 to $77.00 and gave the stock a "buy" rating in a research report on Wednesday, February 4th. Royal Bank Of Canada increased their target price on Atkore from $71.00 to $82.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Atkore in a research report on Friday, May 1st. One investment 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $81.67.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $84.48 on Friday. The firm has a market capitalization of $2.85 billion, a PE ratio of -23.60 and a beta of 1.67. 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 business has a 50-day moving average of $67.73 and a two-hundred day moving average of $66.70. Atkore Inc. has a 12 month low of $53.49 and a 12 month high of $84.83.

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

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, May 19th. This represents a $1.32 annualized dividend and a yield of 1.6%. Atkore's dividend payout ratio is currently -36.87%.

Insider Activity

In other news, 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 value of $206,202.33. Following the completion of the sale, the director owned 18,610 shares in the company, valued at approximately $1,370,998.70. This trade represents a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the firm's 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 in the company, valued at approximately $1,256,007.43. The trade was a 16.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.10% of the company's stock.

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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