Hsbc Holdings PLC Buys New Holdings in Atkore Inc. $ATKR

Hsbc Holdings PLC purchased a new position in Atkore Inc. (NYSE:ATKR) during the first quarter, HoldingsChannel reports. The fund purchased 18,656 shares of the company’s stock, valued at approximately $1,092,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in Atkore by 657.2% during the fourth quarter. SG Americas Securities LLC now owns 32,023 shares of the company’s stock valued at $2,025,000 after acquiring an additional 27,794 shares in the last quarter. Irenic Capital Management LP purchased a new position in shares of Atkore in the 4th quarter worth $884,000. LSV Asset Management grew its stake in shares of Atkore by 5.8% in the 4th quarter. LSV Asset Management now owns 960,450 shares of the company’s stock worth $60,748,000 after buying an additional 52,850 shares in the last quarter. Willis Investment Counsel increased its holdings in shares of Atkore by 237.7% in the 4th quarter. Willis Investment Counsel now owns 39,351 shares of the company’s stock worth $2,489,000 after buying an additional 27,698 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Atkore by 62.9% during the 4th quarter. HighTower Advisors LLC now owns 20,336 shares of the company’s stock valued at $1,286,000 after buying an additional 7,856 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup lifted their price target on Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 price objective on Atkore in a research note on Thursday, July 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $138.33.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $77.36 on Wednesday. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -21.61 and a beta of 1.68. Atkore Inc. has a 12 month low of $53.49 and a 12 month high of $90.16. The firm’s 50-day moving average is $77.23 and its 200 day moving average is $70.72. 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 announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.23. The business had revenue of $731.38 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.04 earnings per share. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Research analysts predict that Atkore Inc. will post 4.75 EPS for the current year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, May 19th. This represents a $1.32 dividend on an annualized basis and a yield of 1.7%. Atkore’s payout ratio is presently -36.87%.

Insider Buying and Selling at Atkore

In other Atkore news, Director Justin A. Kershaw sold 2,799 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $73.67, for a total value of $206,202.33. Following the transaction, the director owned 18,610 shares of the company’s stock, valued at $1,370,998.70. This represents a 13.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $73.61, for a total value of $242,839.39. Following the completion of the sale, the director owned 17,063 shares in the company, valued at approximately $1,256,007.43. The trade was a 16.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.10% of the company’s stock.

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.