Janus Henderson Group PLC Grows Position in Atkore Inc. (NYSE:ATKR)

Janus Henderson Group PLC grew its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 132.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,228 shares of the company's stock after acquiring an additional 39,996 shares during the quarter. Janus Henderson Group PLC owned 0.20% of Atkore worth $5,860,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ATKR. Van Den Berg Management I Inc. lifted its holdings in shares of Atkore by 0.4% during the fourth quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company's stock valued at $3,425,000 after purchasing an additional 158 shares in the last quarter. Isthmus Partners LLC lifted its holdings in Atkore by 0.8% in the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company's stock valued at $1,789,000 after acquiring an additional 162 shares during the period. Xponance Inc. lifted its holdings in Atkore by 6.9% in the fourth quarter. Xponance Inc. now owns 2,569 shares of the company's stock valued at $214,000 after acquiring an additional 166 shares during the period. Willis Investment Counsel lifted its holdings in Atkore by 3.3% in the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company's stock valued at $446,000 after acquiring an additional 171 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in Atkore by 0.8% in the fourth quarter. MetLife Investment Management LLC now owns 21,357 shares of the company's stock valued at $1,782,000 after acquiring an additional 171 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ATKR shares. Royal Bank of Canada increased their target price on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. KeyCorp increased their target price on Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Roth Capital set a $78.00 target price on Atkore and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Citigroup lowered their target price on Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $77.57.

Atkore Stock Performance

ATKR traded down $0.52 during midday trading on Friday, reaching $65.30. The company had a trading volume of 251,974 shares, compared to its average volume of 682,256. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average of $62.56 and a two-hundred day moving average of $73.87. The company has a market cap of $2.20 billion, a P/E ratio of 6.32 and a beta of 2.10. Atkore Inc. has a 1 year low of $49.92 and a 1 year high of $157.25.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.52. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business had revenue of $701.73 million during the quarter, compared to analysts' expectations of $690.83 million. During the same quarter in the prior year, the business posted $4.08 earnings per share. The business's quarterly revenue was down 11.5% on a year-over-year basis. As a group, equities research analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.32 annualized dividend and a dividend yield of 2.02%. This is a boost from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio (DPR) is currently 25.38%.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the sale, the insider now owns 32,828 shares in the company, valued at approximately $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.99% of the stock is currently owned by company insiders.

About Atkore

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.