Allspring Global Investments Holdings LLC Reduces Stock Position in Atkore Inc. $ATKR

Allspring Global Investments Holdings LLC lowered its stake in shares of Atkore Inc. (NYSE:ATKR) by 52.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,830 shares of the company’s stock after selling 85,513 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.23% of Atkore worth $4,628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ATKR. Jones Financial Companies Lllp increased its stake in Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after buying an additional 246 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Atkore by 15.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company’s stock valued at $7,009,000 after buying an additional 16,028 shares during the period. Intech Investment Management LLC grew its holdings in Atkore by 59.7% during the first quarter. Intech Investment Management LLC now owns 29,363 shares of the company’s stock worth $1,761,000 after acquiring an additional 10,972 shares during the period. Strs Ohio acquired a new stake in Atkore in the first quarter valued at $36,000. Finally, Norges Bank acquired a new position in shares of Atkore during the 2nd quarter worth $467,000.

Insider Activity

In related news, Director Justin A. Kershaw sold 2,799 shares of the business’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 transaction, the director directly owned 18,610 shares of the company’s stock, valued at approximately $1,370,998.70. The trade was a 13.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the stock in a transaction on Friday, May 8th. The stock was 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.10% of the company’s stock.

Atkore Stock Up 4.6%

ATKR stock opened at $76.44 on Friday. The firm’s 50-day moving average is $77.10 and its two-hundred day moving average is $70.56. The company has a current ratio of 2.64, a quick ratio of 2.02 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -21.35 and a beta of 1.68. Atkore Inc. has a 52 week low of $53.49 and a 52 week high of $90.16.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.23. The company had revenue of $731.38 million for the quarter, compared to the consensus estimate of $714.18 million. Atkore had a positive return on equity of 9.22% and a negative net margin of 4.19%.The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.04 EPS. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. On average, analysts forecast that Atkore Inc. will post 4.75 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Tuesday, May 19th. Atkore’s dividend payout ratio (DPR) is presently -36.87%.

Analysts Set New Price Targets

ATKR has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a research note on Friday, May 1st. Royal Bank Of Canada set a $76.00 price target on shares of Atkore in a research report on Thursday, July 16th. Wall Street Zen cut Atkore from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Citigroup increased their price objective on Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Atkore presently has a consensus rating of “Hold” and an average price target of $138.33.

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.