UBS Group AG Has $3.21 Million Stake in Atkore Inc. $ATKR

Key Points

• UBS Group AG sharply cut its Atkore stake in the fourth quarter, selling 187,319 shares and reducing its position by 78.7% to 50,716 shares worth about $3.21 million.
• Atkore’s latest earnings beat expectations, with Q1 EPS of $1.23 versus the $1.00 consensus and revenue of $731.38 million, up 4.2% year over year.
• Insiders recently sold shares, including two directors who reduced their holdings on May 8, even as the company declared a quarterly dividend of $0.33 per share.

UBS Group AG decreased its position in Atkore Inc. (NYSE:ATKR - Free Report) by 78.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 50,716 shares of the company's stock after selling 187,319 shares during the period. UBS Group AG owned about 0.15% of Atkore worth $3,208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Atkore by 10.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,300 shares of the company's stock worth $715,000 after purchasing an additional 1,093 shares during the period. Lakewood Asset Management LLC boosted its stake in Atkore by 4.1% in the 4th quarter. Lakewood Asset Management LLC now owns 10,590 shares of the company's stock worth $670,000 after purchasing an additional 413 shares during the period. Roman Butler Fullerton & Co. boosted its stake in Atkore by 26.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 5,394 shares of the company's stock worth $341,000 after purchasing an additional 1,126 shares during the period. Clear Creek Financial Management LLC boosted its stake in Atkore by 43.6% in the 4th quarter. Clear Creek Financial Management LLC now owns 11,990 shares of the company's stock worth $758,000 after purchasing an additional 3,642 shares during the period. Finally, Willis Investment Counsel boosted its stake in Atkore by 237.7% in the 4th quarter. Willis Investment Counsel now owns 39,351 shares of the company's stock worth $2,489,000 after purchasing an additional 27,698 shares during the period.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Atkore

In related news, Director Justin A. Kershaw sold 2,799 shares of Atkore 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 transaction, the director owned 18,610 shares in the company, valued at $1,370,998.70. This trade represents a 13.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wilbert W. James, Jr. sold 3,299 shares of Atkore stock in a transaction on Friday, May 8th. The stock was sold at an average price of $73.61, for a total transaction of $242,839.39. Following the completion of the transaction, the director owned 17,063 shares in the company, valued at $1,256,007.43. This trade represents a 16.20% decrease in their position. The SEC filing for this sale provides additional information. 2.10% of the stock is currently owned by insiders.

Atkore Stock Down 0.3%

ATKR stock opened at $84.48 on Monday. 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 1 year low of $53.49 and a 1 year high of $84.83. The company has a fifty day simple moving average of $67.73 and a 200 day simple moving average of $66.68. The firm has a market cap of $2.85 billion, a PE ratio of -23.60 and a beta of 1.67.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $714.18 million. During the same quarter in the previous year, the business earned $2.04 EPS. Atkore'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. Sell-side analysts anticipate that Atkore Inc. will post 4.75 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend 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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