Janus Henderson Group PLC Acquires 39,996 Shares of Atkore Inc. (NYSE:ATKR)

Janus Henderson Group PLC grew its holdings in shares of Atkore Inc. (NYSE:ATKR) by 132.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,228 shares of the company’s stock after purchasing an additional 39,996 shares during the period. Janus Henderson Group PLC owned about 0.20% of Atkore worth $5,860,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ATKR. First Trust Advisors LP increased its holdings in Atkore by 195.6% in the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company’s stock valued at $98,009,000 after buying an additional 777,113 shares during the period. Gates Capital Management Inc. increased its stake in shares of Atkore by 29.6% in the 4th quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company’s stock valued at $217,584,000 after purchasing an additional 595,774 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Atkore by 549.9% in the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock valued at $50,658,000 after purchasing an additional 513,631 shares during the last quarter. Norges Bank acquired a new position in shares of Atkore during the 4th quarter worth $42,339,000. Finally, Victory Capital Management Inc. lifted its position in shares of Atkore by 3,948.4% during the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock worth $39,291,000 after buying an additional 459,200 shares during the last quarter.

Analysts Set New Price Targets

ATKR has been the subject of several research analyst reports. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and lowered their target price for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. KeyCorp increased their price objective on shares of Atkore from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Royal Bank of Canada upped their price target 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, Roth Capital set a $78.00 price objective on Atkore and gave the company a “buy” rating in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Atkore presently has an average rating of “Moderate Buy” and a consensus price target of $77.57.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the completion of the sale, the insider now directly owns 32,828 shares in the company, valued at approximately $2,270,384.48. The trade was a 2.96% decrease in their ownership of the stock. The sale 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 corporate insiders.

Atkore Stock Performance

NYSE ATKR opened at $68.82 on Monday. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 6.66 and a beta of 2.10. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $157.25. The stock has a fifty day simple moving average of $62.33 and a 200 day simple moving average of $74.64. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 earnings per share (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 company had revenue of $701.73 million during the quarter, compared to the consensus estimate of $690.83 million. During the same period last year, the company earned $4.08 earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. Sell-side analysts expect that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be paid a $0.33 dividend. This is a positive change from Atkore’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, May 16th. Atkore’s dividend payout ratio is currently 25.38%.

Atkore 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.