Foundry Partners LLC Takes $4.24 Million Position in ManpowerGroup Inc. (NYSE:MAN)

Foundry Partners LLC bought a new position in ManpowerGroup Inc. (NYSE:MAN) during the third quarter, Holdings Channel.com reports. The fund bought 57,731 shares of the business services provider’s stock, valued at approximately $4,244,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. raised its holdings in shares of ManpowerGroup by 248.3% during the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after purchasing an additional 375 shares during the last quarter. Abich Financial Wealth Management LLC grew its holdings in shares of ManpowerGroup by 62.4% in the first quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 224 shares in the last quarter. Headlands Technologies LLC acquired a new position in ManpowerGroup during the 2nd quarter worth approximately $47,000. Advisors Asset Management Inc. purchased a new stake in ManpowerGroup in the 1st quarter valued at $49,000. Finally, Innealta Capital LLC purchased a new position in ManpowerGroup during the 2nd quarter worth $50,000. 98.03% of the stock is currently owned by institutional investors.

ManpowerGroup Stock Up 0.7 %

MAN stock opened at $60.80 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.15. The business’s 50 day moving average price is $67.67 and its two-hundred day moving average price is $70.80. ManpowerGroup Inc. has a fifty-two week low of $59.35 and a fifty-two week high of $80.25. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 76.96 and a beta of 1.46.

ManpowerGroup (NYSE:MAN) last posted its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.48 billion. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. As a group, analysts forecast that ManpowerGroup Inc. will post 4.55 earnings per share for the current fiscal year.

ManpowerGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.545 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a dividend yield of 10.16%. ManpowerGroup’s payout ratio is 389.88%.

Analysts Set New Price Targets

MAN has been the topic of several analyst reports. BMO Capital Markets decreased their price target on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research note on Friday, October 18th. Truist Financial cut their price target on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a report on Friday, October 18th. Finally, UBS Group dropped their price objective on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, ManpowerGroup presently has an average rating of “Hold” and a consensus target price of $76.60.

Insider Buying and Selling at ManpowerGroup

In related news, CFO John T. Mcginnis acquired 8,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was purchased at an average price of $62.28 per share, with a total value of $498,240.00. Following the transaction, the chief financial officer now owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. This trade represents a 12.77 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.40% of the stock is owned by corporate insiders.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.