HighTower Advisors LLC Purchases 7,856 Shares of Atkore Inc. $ATKR

HighTower Advisors LLC boosted its position in shares of Atkore Inc. (NYSE:ATKR) by 62.9% during the 4th quarter, HoldingsChannel reports. The fund owned 20,336 shares of the company’s stock after buying an additional 7,856 shares during the quarter. HighTower Advisors LLC’s holdings in Atkore were worth $1,286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ATKR. Jefferies Financial Group Inc. bought a new stake in Atkore in the 3rd quarter valued at $36,525,000. SG Americas Securities LLC increased its holdings in Atkore by 657.2% in the 4th quarter. SG Americas Securities LLC now owns 32,023 shares of the company’s stock valued at $2,025,000 after buying an additional 27,794 shares during the period. Allianz Asset Management GmbH increased its holdings in Atkore by 359.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 37,695 shares of the company’s stock valued at $2,365,000 after buying an additional 29,495 shares during the period. Rock Point Advisors LLC increased its holdings in Atkore by 25.7% in the 3rd quarter. Rock Point Advisors LLC now owns 108,541 shares of the company’s stock valued at $6,810,000 after buying an additional 22,203 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Atkore by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,632,594 shares of the company’s stock valued at $227,909,000 after buying an additional 273,466 shares during the period.

Insider Activity

In other news, Director Wilbert W. James, Jr. sold 3,299 shares of the company’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 of the company’s stock, valued at approximately $1,256,007.43. This represents a 16.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justin A. Kershaw sold 2,799 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was 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 approximately $1,370,998.70. The trade was a 13.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.10% of the stock is currently owned by corporate insiders.

Atkore Stock Up 1.0%

ATKR opened at $84.99 on Thursday. The firm’s 50-day simple moving average is $72.08 and its 200-day simple moving average is $67.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.02 and a current ratio of 2.64. Atkore Inc. has a twelve month low of $53.49 and a twelve month high of $90.16. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of -23.74 and a beta of 1.66.

Atkore (NYSE:ATKR) last posted 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 analyst estimates of $714.18 million. During the same quarter in the prior year, the firm earned $2.04 EPS. 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. Equities research analysts anticipate that Atkore Inc. will post 4.75 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. Atkore’s dividend payout ratio is presently -36.87%.

Wall Street Analyst Weigh In

ATKR has been the topic of several analyst reports. Royal Bank Of Canada boosted their price target on shares of Atkore from $71.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. Roth Mkm boosted their price target on shares of Atkore from $71.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Citigroup boosted their price target on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a report on Friday, May 1st. One research 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 stock has an average rating of “Hold” and an average target price of $81.67.

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.