Atkore (NYSE:ATKR) Hits New 12-Month High – Here’s What Happened

Atkore Inc. (NYSE:ATKR)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $81.63 and last traded at $80.9850, with a volume of 144575 shares trading hands. The stock had previously closed at $76.18.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ATKR. Weiss Ratings restated a “sell (d)” rating on shares of Atkore in a report on Friday, May 1st. Citigroup upped their target price on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Royal Bank Of Canada upped their target price 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. Finally, Roth Mkm upped their target price on shares of Atkore from $71.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $81.67.

Atkore Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 2.64 and a quick ratio of 2.02. The company’s 50-day simple moving average is $67.24 and its 200-day simple moving average is $66.58. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -23.16 and a beta of 1.67.

Atkore (NYSE:ATKR) last issued 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 company had revenue of $731.38 million during the quarter, compared to the consensus estimate of $714.18 million. During the same quarter last year, the company earned $2.04 earnings per share. Atkore’s revenue for the quarter was up 4.2% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. On average, equities research analysts anticipate that Atkore Inc. will post 4.75 EPS for the current year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $1.32 annualized dividend and a yield of 1.6%. Atkore’s dividend payout ratio (DPR) is -36.87%.

Insider Activity at Atkore

In other news, Director Justin A. Kershaw sold 2,799 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $73.67, for a total transaction of $206,202.33. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the firm’s stock in a transaction that occurred 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 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. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is owned by company insiders.

Institutional Trading of Atkore

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Atkore by 8.1% during the third 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 in the last quarter. First Trust Advisors LP grew its position in shares of Atkore by 18.7% during the fourth quarter. First Trust Advisors LP now owns 1,385,741 shares of the company’s stock worth $87,648,000 after buying an additional 218,358 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Atkore by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company’s stock worth $72,341,000 after buying an additional 97,514 shares in the last quarter. American Century Companies Inc. grew its position in shares of Atkore by 14.3% during the third quarter. American Century Companies Inc. now owns 1,158,103 shares of the company’s stock worth $72,659,000 after buying an additional 144,844 shares in the last quarter. Finally, LSV Asset Management grew its position in shares of Atkore by 5.8% during the fourth quarter. LSV Asset Management now owns 960,450 shares of the company’s stock worth $60,748,000 after buying an additional 52,850 shares in the last quarter.

Atkore Company 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.