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

JPMorgan Chase & Co. trimmed its holdings in shares of Atkore Inc. (NYSE:ATKR) by 44.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 295,838 shares of the company’s stock after selling 239,324 shares during the period. JPMorgan Chase & Co.’s holdings in Atkore were worth $18,561,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ATKR. Jefferies Financial Group Inc. purchased a new stake in Atkore during the 3rd quarter valued at $36,525,000. Jacobs Levy Equity Management Inc. bought a new position in Atkore in the 3rd quarter worth $21,214,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Atkore in the 2nd quarter worth about $21,453,000. Vanguard Group Inc. lifted its position in shares of Atkore by 8.1% in the 3rd 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. Finally, Bridgeway Capital Management LLC bought a new stake in shares of Atkore during the 3rd quarter valued at about $15,872,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Citigroup lifted their price objective on Atkore from $64.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Roth Mkm upped their target price on Atkore from $71.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. CJS Securities raised Atkore to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Atkore in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $75.50.

Atkore Stock Performance

Atkore stock opened at $60.77 on Thursday. Atkore Inc. has a twelve month low of $49.92 and a twelve 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 company has a market capitalization of $2.05 billion, a P/E ratio of -43.72 and a beta of 1.54. The stock’s 50 day moving average is $65.21 and its 200 day moving average is $64.83.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19. Atkore had a positive return on equity of 11.27% and a negative net margin of 1.63%.The business had revenue of $655.55 million during the quarter, compared to analysts’ expectations of $650.09 million. During the same quarter in the previous year, the business earned $1.63 earnings per share. The firm’s quarterly revenue 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, equities research analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Dividend Announcement

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

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction dated 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 transaction, the insider owned 35,982 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

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.