Shares of Atkore Inc. (NYSE:ATKR – Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $64.78 and traded as low as $58.37. Atkore shares last traded at $61.4290, with a volume of 335,136 shares.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on ATKR shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a research note on Monday, December 29th. Royal Bank Of Canada set a $71.00 price target on shares of Atkore in a research note on Wednesday, February 4th. Citigroup increased their price objective on shares of Atkore from $64.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. CJS Securities raised shares of Atkore to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.50.
Get Our Latest Analysis on Atkore
Atkore Trading Down 0.1%
Atkore (NYSE:ATKR – Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19. Atkore had a positive return on equity of 11.27% and a negative net margin of 1.63%.The business had revenue of $655.55 million during the quarter, compared to the consensus estimate of $650.09 million. During the same period in the previous year, the business earned $1.63 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.
Atkore Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, February 17th. Atkore’s dividend payout ratio is -94.96%.
Insider Activity
In other news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $65.78, for a total value of $65,780.00. Following the completion of the transaction, the insider directly owned 35,982 shares of the company’s stock, valued at approximately $2,366,895.96. The trade was a 2.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.
Hedge Funds Weigh In On Atkore
A number of large investors have recently bought and sold shares of ATKR. Allianz Asset Management GmbH lifted its holdings in shares of Atkore by 359.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 37,695 shares of the company’s stock worth $2,365,000 after purchasing an additional 29,495 shares during the last quarter. Ruffer LLP acquired a new position in Atkore during the 3rd quarter valued at approximately $2,813,000. Jefferies Financial Group Inc. bought a new position in Atkore during the 3rd quarter worth $36,525,000. Vanguard Group Inc. grew its stake in Atkore by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,632,594 shares of the company’s stock worth $227,909,000 after buying an additional 273,466 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Atkore in the third quarter worth $1,750,000.
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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