JPMorgan Chase & Co. Sells 239,324 Shares of Atkore Inc. $ATKR

JPMorgan Chase & Co. cut its holdings in shares of Atkore Inc. (NYSE:ATKR) by 44.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 295,838 shares of the company’s stock after selling 239,324 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.88% of Atkore worth $18,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ruffer LLP bought a new stake in shares of Atkore in the third quarter valued at approximately $2,813,000. Allianz Asset Management GmbH boosted 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 worth $2,365,000 after buying an additional 29,495 shares during the period. Jefferies Financial Group Inc. bought a new position in Atkore in the 3rd quarter worth approximately $36,525,000. Vanguard Group Inc. grew its stake 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 in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Atkore in the 3rd quarter valued at approximately $1,750,000.

Atkore Trading Up 0.7%

Shares of ATKR stock opened at $60.77 on Thursday. The business has a 50-day moving average price of $65.21 and a two-hundred day moving average price of $64.83. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $80.06. The company has a quick ratio of 2.40, a current ratio of 3.42 and a debt-to-equity ratio of 0.54. The firm has a market cap of $2.05 billion, a P/E ratio of -43.72 and a beta of 1.54.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.64 by $0.19. The firm had revenue of $655.55 million for the quarter, compared to analyst estimates of $650.09 million. Atkore had a positive return on equity of 11.27% and a negative net margin of 1.63%.The company’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 EPS. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Equities analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, February 17th. Atkore’s dividend payout ratio (DPR) is presently -94.96%.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $65.78, for a total transaction of $65,780.00. Following the transaction, the insider directly owned 35,982 shares of the company’s stock, valued at approximately $2,366,895.96. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ATKR. Royal Bank Of Canada set a $71.00 target price on Atkore in a research report on Wednesday, February 4th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a research note on Monday, December 29th. CJS Securities raised Atkore to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Citigroup raised their target price on Atkore from $64.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. One 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 given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.50.

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.