Oslo Pensjonsforsikring AS Takes $22.21 Million Position in Atkore Inc. $ATKR

Key Points

• Oslo Pensjonsforsikring AS initiated a large new position in Atkore, buying 377,000 shares valued at about $22.21 million. The stake represented 3.5% of its holdings and made Atkore its 13th-largest position.
• Analysts remain cautious overall on Atkore, with a consensus rating of Hold and an average price target of $138.33. Recent opinions were mixed, including a downgrade to Hold and a few firms maintaining neutral or sell views.
• Atkore reported better-than-expected quarterly earnings of $1.23 per share on revenue of $731.38 million, and it also pays a quarterly dividend of $0.33 per share for a 1.8% annual yield. Insider selling was also noted, with two directors trimming their holdings in May.

Oslo Pensjonsforsikring AS bought a new stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 377,000 shares of the company's stock, valued at approximately $22,209,000. Atkore makes up 3.5% of Oslo Pensjonsforsikring AS's holdings, making the stock its 13th biggest position. Oslo Pensjonsforsikring AS owned 1.12% of Atkore at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Kestra Investment Management LLC boosted its position in shares of Atkore by 710.9% during the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company's stock valued at $31,000 after purchasing an additional 391 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Atkore by 1,263.2% in the 3rd 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 last quarter. Strs Ohio bought a new stake in shares of Atkore in the 1st quarter worth approximately $36,000. Jones Financial Companies Lllp raised 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 during the fourth quarter valued at approximately $77,000.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ATKR. Wall Street Zen lowered shares of Atkore from a "buy" rating to a "hold" rating in a research report on Saturday. Royal Bank Of Canada set a $76.00 price objective on Atkore in a research report on Thursday, July 16th. Citigroup raised their price objective on Atkore from $74.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Atkore in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $138.33.

Atkore Price Performance

ATKR stock opened at $74.66 on Wednesday. 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 one year low of $53.49 and a one year high of $90.16. The firm has a market capitalization of $2.52 billion, a PE ratio of -20.85 and a beta of 1.68. The firm has a 50-day moving average of $77.18 and a two-hundred day moving average of $70.39.

Atkore (NYSE:ATKR - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share 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 business had revenue of $731.38 million for the quarter, compared to the consensus estimate of $714.18 million. During the same period last year, the firm posted $2.04 earnings per share. The firm's quarterly 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. On average, analysts forecast that Atkore Inc. will post 4.75 earnings per share for the current 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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, May 19th. Atkore's payout ratio is presently -36.87%.

Insider Activity at Atkore

In other Atkore news, Director Wilbert W. James, Jr. sold 3,299 shares of the business's stock in a transaction 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 sale, the director directly owned 17,063 shares of the company's stock, valued at $1,256,007.43. The trade was a 16.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justin A. Kershaw sold 2,799 shares of the stock in a transaction on Friday, May 8th. The shares were 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 of the company's stock, valued at $1,370,998.70. The trade was a 13.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.10% of the company's stock.

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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