Nordea Investment Management AB Has $6.16 Million Stake in Atkore Inc. $ATKR

Nordea Investment Management AB reduced its position in shares of Atkore Inc. (NYSE:ATKR) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,609 shares of the company’s stock after selling 14,025 shares during the quarter. Nordea Investment Management AB owned 0.29% of Atkore worth $6,159,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new position in shares of Atkore during the 3rd quarter worth about $36,525,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Atkore in the 3rd quarter valued at about $21,214,000. Arrowstreet Capital Limited Partnership acquired a new stake in Atkore in the 2nd quarter valued at about $21,453,000. JPMorgan Chase & Co. lifted its stake in Atkore by 109.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 535,162 shares of the company’s stock valued at $37,756,000 after purchasing an additional 279,385 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in 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 purchasing an additional 273,466 shares during the period.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $65.78, for a total value of $65,780.00. Following the completion of the sale, the insider directly owned 35,982 shares in the company, valued at $2,366,895.96. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Atkore Stock Down 0.2%

Shares of ATKR opened at $60.79 on Friday. The firm has a market cap of $2.05 billion, a P/E ratio of -43.73 and a beta of 1.54. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.40 and a current ratio of 3.42. Atkore Inc. has a 52 week low of $49.92 and a 52 week high of $80.06. The firm’s 50-day simple moving average is $65.01 and its 200 day simple moving average is $64.81.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.19. Atkore had a negative net margin of 1.63% and a positive return on equity of 11.27%. The firm had revenue of $655.55 million during the quarter, compared to the consensus estimate of $650.09 million. During the same period last year, the business posted $1.63 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. On average, analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ATKR. Citigroup boosted their price target on Atkore from $64.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada set a $71.00 target price on Atkore in a research note on Wednesday, February 4th. CJS Securities raised Atkore to a “strong-buy” rating in a report on Thursday, December 11th. Roth Mkm increased their price target on Atkore from $71.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $75.50.

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.