Man Group plc Has $7.30 Million Stake in Atkore Inc. (NYSE:ATKR)

Man Group plc grew its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 272.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 87,482 shares of the company's stock after acquiring an additional 64,019 shares during the period. Man Group plc owned about 0.25% of Atkore worth $7,300,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after buying an additional 186 shares during the last quarter. Pacer Advisors Inc. grew its stake in Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after buying an additional 195 shares during the period. Harbour Investments Inc. raised its holdings in Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock valued at $86,000 after acquiring an additional 1,000 shares in the last quarter. KBC Group NV lifted its stake in shares of Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company's stock worth $121,000 after acquiring an additional 469 shares during the period. Finally, Covestor Ltd increased its stake in Atkore by 88.5% in the 4th quarter. Covestor Ltd now owns 1,889 shares of the company's stock valued at $157,000 after buying an additional 887 shares during the period.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $69.16, for a total transaction of $69,160.00. Following the transaction, the insider now owns 32,828 shares in the company, valued at approximately $2,270,384.48. The trade was a 2.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.99% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ATKR. Loop Capital downgraded shares of Atkore from a "buy" rating to a "hold" rating and reduced their price target for the company from $115.00 to $65.00 in a report on Monday, February 10th. Citigroup reduced their price objective on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Roth Capital set a $78.00 price target on shares of Atkore and gave the company a "buy" rating in a research note on Wednesday, May 7th. Royal Bank of Canada boosted their target price on shares of Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Finally, KeyCorp upped their price objective on shares of Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Atkore presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.57.

Atkore Trading Down 0.8%

Shares of Atkore stock traded down $0.52 during midday trading on Friday, reaching $65.30. 251,974 shares of the company's stock traded hands, compared to its average volume of 682,256. The company has a market cap of $2.20 billion, a PE ratio of 6.32 and a beta of 2.10. The stock has a 50 day moving average of $62.56 and a 200-day moving average of $73.67. Atkore Inc. has a 12 month low of $49.92 and a 12 month high of $157.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03.

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

Atkore Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th will be issued a $0.33 dividend. 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. The ex-dividend date of this dividend is Friday, May 16th. Atkore's dividend payout ratio is currently 25.38%.

Atkore Company Profile

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.