Man Group plc Boosts Stock Holdings in Atkore Inc. (NYSE:ATKR)

Man Group plc lifted its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 272.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,482 shares of the company's stock after purchasing an additional 64,019 shares during the period. Man Group plc owned 0.25% of Atkore worth $7,300,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. OMERS ADMINISTRATION Corp raised its stake in Atkore by 3.6% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,400 shares of the company's stock worth $1,452,000 after buying an additional 600 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Atkore by 5.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 275,152 shares of the company's stock valued at $22,961,000 after purchasing an additional 14,059 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Atkore during the fourth quarter valued at approximately $417,000. Janus Henderson Group PLC increased its stake in shares of Atkore by 132.3% during the fourth quarter. Janus Henderson Group PLC now owns 70,228 shares of the company's stock valued at $5,860,000 after purchasing an additional 39,996 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in shares of Atkore during the fourth quarter valued at approximately $581,000.

Analyst Ratings Changes

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

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction on Friday, May 9th. The shares were 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 $2,270,384.48. This trade represents a 2.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.99% of the company's stock.

Atkore Trading Down 0.4%

Shares of ATKR stock opened at $68.61 on Tuesday. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $157.25. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The firm's 50 day moving average is $62.42 and its 200 day moving average is $74.52. The stock has a market capitalization of $2.31 billion, a P/E ratio of 6.64 and a beta of 2.10.

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

Atkore Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, May 16th. This is a boost from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio (DPR) 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.

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