Sankala Group LLC Acquires New Stake in Atkore Inc. $ATKR

Sankala Group LLC purchased a new position in Atkore Inc. (NYSE:ATKR) during the 4th quarter, HoldingsChannel reports. The fund purchased 11,943 shares of the company’s stock, valued at approximately $773,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jefferies Financial Group Inc. acquired a new position in Atkore in the 3rd quarter valued at about $36,525,000. SG Americas Securities LLC raised its position in shares of Atkore by 657.2% during 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. Rock Point Advisors LLC lifted its holdings in Atkore by 25.7% in the third quarter. Rock Point Advisors LLC now owns 108,541 shares of the company’s stock valued at $6,810,000 after acquiring an additional 22,203 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Atkore by 8.1% in the third quarter. Vanguard Group Inc. now owns 3,632,594 shares of the company’s stock valued at $227,909,000 after acquiring an additional 273,466 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Atkore in the third quarter worth approximately $1,750,000.

Atkore Stock Down 0.2%

Shares of NYSE ATKR opened at $81.03 on Friday. The stock has a market cap of $2.74 billion, a P/E ratio of -22.63 and a beta of 1.66. The business’s fifty day simple moving average is $76.58 and its 200-day simple moving average is $68.93. Atkore Inc. has a 12-month low of $53.49 and a 12-month high of $90.16. The company has a current ratio of 2.64, a quick ratio of 2.02 and a debt-to-equity ratio of 0.59.

Atkore (NYSE:ATKR) last posted 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 during the quarter, compared to analysts’ expectations of $714.18 million. Atkore had a negative net margin of 4.19% and a positive return on equity of 9.22%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous 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 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.33 per share. 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 (DPR) is presently -36.87%.

Analyst Upgrades and Downgrades

ATKR has been the topic of several recent 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 raised their price objective on Atkore from $71.00 to $82.00 and gave the stock a “sector perform” rating in a research 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. Finally, Citigroup upped their target price on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. One equities research 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. Based on data from MarketBeat, Atkore currently has an average rating of “Hold” and a consensus price target of $81.67.

Insider Transactions at Atkore

In other Atkore news, Director Justin A. Kershaw sold 2,799 shares of the firm’s stock in a transaction 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. This trade represents a 13.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the firm’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 transaction, the director directly owned 17,063 shares in the company, valued at approximately $1,256,007.43. This represents a 16.20% decrease in their position. The SEC filing for this sale provides additional information. 2.10% of the stock is currently owned by insiders.

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.