Oslo Pensjonsforsikring AS Invests $22.21 Million in Atkore Inc. $ATKR

Oslo Pensjonsforsikring AS purchased a new position in shares of Atkore Inc. (NYSE:ATKR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 377,000 shares of the company’s stock, valued at approximately $22,209,000. Atkore accounts for approximately 3.5% of Oslo Pensjonsforsikring AS’s investment portfolio, making the stock its 13th biggest holding.

Several other institutional investors have also made changes to their positions in the stock. First Trust Advisors LP increased its stake in Atkore by 18.7% in the 4th quarter. First Trust Advisors LP now owns 1,385,741 shares of the company’s stock valued at $87,648,000 after buying an additional 218,358 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Atkore by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company’s stock valued at $72,341,000 after buying an additional 97,514 shares during the period. LSV Asset Management boosted its stake in shares of Atkore by 5.8% during the 4th quarter. LSV Asset Management now owns 960,450 shares of the company’s stock valued at $60,748,000 after buying an additional 52,850 shares during the period. Coliseum Capital Management LLC purchased a new position in shares of Atkore during the 4th quarter valued at $51,189,000. Finally, Earnest Partners LLC purchased a new position in shares of Atkore during the 4th quarter valued at $49,571,000.

Insider Buying and Selling at Atkore

In other Atkore news, Director Wilbert W. James, Jr. sold 3,299 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $73.61, for a total value of $242,839.39. Following the completion of the sale, the director owned 17,063 shares of the company’s stock, valued at $1,256,007.43. The trade was a 16.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $206,202.33. Following the sale, the director owned 18,610 shares of the company’s stock, valued at approximately $1,370,998.70. This trade represents a 13.07% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.10% of the company’s stock.

Atkore Price Performance

NYSE ATKR opened at $74.66 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.64 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $2.52 billion, a PE ratio of -20.85 and a beta of 1.68. Atkore Inc. has a 12-month low of $53.49 and a 12-month high of $90.16. The company has a 50 day moving average price of $77.18 and a two-hundred day moving average price of $70.39.

Atkore (NYSE:ATKR) 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 for the quarter, compared to analyst estimates of $714.18 million. Atkore had a negative net margin of 4.19% and a positive return on equity of 9.22%. Atkore’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.04 EPS. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. As a group, equities analysts predict that Atkore Inc. will post 4.75 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced 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 of this dividend was Tuesday, May 19th. Atkore’s dividend payout ratio is presently -36.87%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen lowered Atkore from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup boosted their target price on Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 target price on Atkore in a research report on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a research note on Friday, May 1st. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $138.33.

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.