Allspring Global Investments Holdings LLC Sells 85,513 Shares of Atkore Inc. $ATKR

Allspring Global Investments Holdings LLC lessened its holdings in Atkore Inc. (NYSE:ATKR) by 52.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 76,830 shares of the company’s stock after selling 85,513 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Atkore were worth $4,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC grew its holdings in shares of Atkore by 710.9% during the second quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock worth $31,000 after purchasing an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Atkore by 1,263.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock valued at $32,000 after acquiring an additional 480 shares in the last quarter. Strs Ohio acquired a new stake in Atkore in the 1st quarter valued at about $36,000. Jones Financial Companies Lllp raised its stake in shares of Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after acquiring an additional 246 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Atkore in the fourth quarter worth about $77,000.

Analyst Upgrades and Downgrades

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

Atkore Stock Up 4.6%

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

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

Atkore Dividend Announcement

The business also recently declared 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 yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Atkore’s dividend payout ratio is currently -36.87%.

Insider Activity

In related news, Director Wilbert W. James, Jr. sold 3,299 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Justin A. Kershaw sold 2,799 shares of the business’s stock in a transaction dated 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 directly owned 18,610 shares of the company’s stock, valued at $1,370,998.70. This represents a 13.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is owned by corporate insiders.

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.