Irenic Capital Management LP Makes New Investment in Atkore Inc. $ATKR

Irenic Capital Management LP acquired a new position in shares of Atkore Inc. (NYSE:ATKR) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 13,977 shares of the company’s stock, valued at approximately $884,000.

Other large investors also recently bought and sold shares of the company. Kestra Investment Management LLC raised its position in Atkore by 710.9% during the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock worth $31,000 after buying an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Atkore by 1,263.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock worth $32,000 after buying an additional 480 shares during the last quarter. Strs Ohio purchased a new position in Atkore during the 1st quarter worth $36,000. Jones Financial Companies Lllp increased its holdings in shares of Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after purchasing an additional 246 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Atkore in the 4th quarter valued at about $77,000.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a report on Friday, May 1st. Citigroup increased their price target on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a 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, Royal Bank Of Canada increased their price target on shares of Atkore from $71.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. One equities 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 given a Sell rating to the stock. According to MarketBeat.com, Atkore presently has an average rating of “Hold” and an average target price of $81.67.

Insider Transactions at Atkore

In related news, Director Wilbert W. James, Jr. sold 3,299 shares of the 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 sale, the director directly owned 17,063 shares of the company’s stock, valued at approximately $1,256,007.43. This represents a 16.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justin A. Kershaw sold 2,799 shares of the 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 in the company, valued at approximately $1,370,998.70. The trade was a 13.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.10% of the stock is currently owned by corporate insiders.

Atkore Stock Performance

Shares of ATKR opened at $76.76 on Thursday. The company has a 50-day simple moving average of $75.93 and a 200-day simple moving average of $68.74. The company has a quick ratio of 2.02, a current ratio of 2.64 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $2.59 billion, a PE ratio of -21.44 and a beta of 1.66. Atkore Inc. has a 52-week low of $53.49 and a 52-week high of $90.16.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.04 EPS. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Equities research analysts predict that Atkore Inc. will post 4.75 earnings per share for the current fiscal year.

Atkore Announces Dividend

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

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.