Atkore Inc. (ATKR): history, ownership, mission, how it works & makes money

A Brief History of Atkore Inc. (ATKR)

Formation and Early Years

Atkore Inc. was established in 1959 originally under the name Allied Tube & Conduit Corporation. The company primarily focused on the manufacturing of electrical conduit and tubing products. Over the years, it expanded its product offerings and entered different markets.

Public Offering and Growth

In December 2016, Atkore went public, trading on the New York Stock Exchange under the symbol ATKR. The initial public offering (IPO) was priced at $19 per share, raising approximately $179 million.

Financial Performance

As of fiscal year-end 2022, Atkore reported net sales of $2.2 billion, a significant increase from $1.8 billion in 2021. The company's net income for 2022 was approximately $437 million, which represented a 70% increase from the previous year.

Product Segments

Atkore operates through several key segments:

• Electrical Conduit
• Wire and Cable Management
• Mechanical Products
• Safety and Security Products

Acquisitions

In 2021, Atkore expanded its market presence by acquiring several companies, including:

• Unistrut International, enhancing its offerings in the mechanical and electrical systems market.
• Conductix-Wampfler, which increased its capabilities in power supply and data transmission systems.

Recent Developments

In 2023, Atkore announced a new manufacturing facility in Texas, with an investment of approximately $50 million aimed at increasing capacity and meeting rising demand. The facility is expected to create over 200 jobs.

Market Position

Atkore holds a strong market position in the electrical and plumbing industries. It ranked among the top three manufacturers in the conduit segment in the United States. The company further invests in innovation, contributing to technological advancements within its sector.

Stock Performance

As of October 2023, Atkore's stock price stood at approximately $85.00 per share, reflecting a year-to-date increase of about 30%. The market capitalization of Atkore is estimated at $3.1 billion.

Financial Highlights

Corporate Social Responsibility

Atkore has committed to sustainability and reducing its environmental impact. The company aims to achieve a 30% reduction in greenhouse gas emissions by 2025, promoting recycling initiatives and energy-efficient practices in its operations.

Future Outlook

Market analysts project steady growth for Atkore, anticipating an annual revenue increase of 5% over the next five years, driven by high demand for electrical infrastructure and construction products.

A Who Owns Atkore Inc. (ATKR)

Stock Ownership Breakdown

As of the latest available data, Atkore Inc. (ticker: ATKR) has a diversified ownership structure comprising institutional investors, individual shareholders, and corporate insiders.

Major Institutional Investors

Several institutional investors hold significant stakes in Atkore Inc. The following table highlights the top institutional shareholders and their respective ownership percentages.

Insider Ownership Details

Insider ownership is crucial for understanding the interests of Atkore's management. The following table provides information on key insiders and their holdings.

Recent Market Capitalization

As of the last trading session, Atkore Inc. reported a market capitalization of $2.8 billion.

Share Performance

The stock price performance of Atkore Inc. in recent months is as follows:

Summary of Financial Performance

In the last fiscal year, Atkore Inc. reported the following financial data:

Conclusion on Ownership Structure

The ownership of Atkore Inc. reflects a strong institutional base, with major mutual funds and investment firms holding a majority of shares, while insiders maintain a modest stake.

Atkore Inc. (ATKR) Mission Statement

Overview of Atkore Inc.

Atkore Inc. is a leading manufacturer of electrical, safety, and infrastructure products, specializing in the production of electrical conduit, cable management systems, and safety products. The company's mission statement is centered around providing innovative solutions that enhance the lives of its customers through quality products and exceptional service.

Core Elements of the Mission Statement

• Quality: Atkore is committed to delivering high-quality products.
• Innovation: The company emphasizes the importance of creating innovative solutions.
• Customer Focus: Serving the needs of customers is a primary objective.
• Sustainability: Atkore aims to operate in an environmentally responsible manner.

Recent Financial Performance

Atkore Inc. has seen significant financial growth in recent years. As of fiscal year 2022, the company reported:

Market Position

Atkore operates in a competitive landscape, with key competitors including:

• Schneider Electric
• General Electric
• American Electric Power
• Rittal

Strategic Priorities

The strategic priorities outlined by Atkore include:

• Enhancing Product Offerings: Continuously improve the existing product range.
• Expanding Market Reach: Grow presence in both domestic and international markets.
• Operational Excellence: Focus on efficiency and productivity across all operations.
• Employee Development: Invest in workforce training and development.

Commitment to Sustainability

Atkore is dedicated to sustainability practices, including:

• Recycling initiatives
• Reducing greenhouse gas emissions
• Using sustainable materials in manufacturing

Recent Acquisitions and Growth Strategies

In 2021, Atkore acquired:

Customer Engagement and Community Involvement

Atkore actively engages with its customers through:

• Customer feedback programs
• Technical support services
• Community outreach initiatives

Conclusion of Mission Statement Impact

The mission statement of Atkore Inc. is reflected in its operational strategies, financial performance, and community involvement, underscoring its commitment to quality, innovation, and sustainability.

How Atkore Inc. (ATKR) Works

Company Overview

Atkore Inc. specializes in manufacturing electrical and mechanical products. As of the fiscal year 2022, Atkore reported revenues of approximately $1.4 billion. The company operates with a focus on three main segments: Electrical, Mechanical, and Safety & Infrastructure.

Business Segments

• Electrical: Products include conduit, fittings, raceways, and cable management systems.
• Mechanical: Offers products such as pipe and fittings used in plumbing and HVAC systems.
• Safety & Infrastructure: Encompasses safety solutions for various industrial applications.

Operational Facilities

Atkore has a wide network of manufacturing facilities across North America and beyond. The company operates more than 25 manufacturing locations.

Financial Performance

In fiscal year 2022, Atkore had a gross profit margin of 28% and a net income of $220 million. The company's operating income increased by 45% compared to the prior year.

Market Position

Atkore is positioned as a leading supplier in the electrical and mechanical markets. As of 2022, the company held a market share of approximately 15% in the electrical conduit segment.

Strategic Initiatives

In response to industry changes, Atkore has focused on several key initiatives, including:

• Expansion of manufacturing capacity
• Investment in sustainability practices
• Strategic acquisitions to enhance portfolio

Recent Acquisitions

In 2021, Atkore acquired a key competitor for $50 million, enhancing its product offerings and market reach.

Shareholder Information

The company trades on the NYSE under the ticker symbol ATKR. In 2022, Atkore declared a dividend of $0.12 per share, yielding approximately 0.20%.

Future Outlook

Analyst projections for Atkore's revenue growth in 2023 indicate a potential increase of 10% to 15%. The company is expected to continue investing in innovation and market expansion.

How Atkore Inc. (ATKR) Makes Money

Business Segments

Atkore Inc. operates primarily in three segments:

• Electrical Products
• Safety & Infrastructure
• Mechanical Products

Electrical Products

This segment contributes significantly to Atkore's revenue, primarily through the sale of electrical conduit, fittings, and other accessories. In fiscal year 2023, the Electrical Products segment generated approximately $1.3 billion in revenue.

Safety & Infrastructure

The Safety & Infrastructure segment focuses on products that enhance safety in public infrastructure projects. In 2023, this segment reported revenues of about $800 million.

Mechanical Products

Atkore’s Mechanical Products segment includes pipe and tubing solutions. In the latest fiscal year, it generated approximately $600 million in revenue.

Revenue Breakdown

Key Customers

Atkore serves a diverse range of customers across multiple industries including:

• Construction
• Energy
• Telecommunications
• Water/wastewater

Notable customers include leading contractors and distributors, contributing to stable demand and recurring revenue streams.

Cost Structure

The company's cost structure includes:

• Raw materials, accounting for approximately 60% of total costs.
• Manufacturing expenses, which represent around 25%.
• Distribution and selling expenses, making up about 15%.

Net Income

In fiscal year 2023, Atkore reported a net income of approximately $230 million, reflecting a net profit margin of around 9%.

Market Trends

Atkore benefits from several market trends:

• Increased demand for electrical infrastructure driven by renewable energy projects.
• Regulatory changes enhancing requirements for safety and compliance in construction.

Recent Acquisitions

To expand its market presence, Atkore has made strategic acquisitions. In 2023, they acquired:

• 100% of the assets of a regional electrical manufacturer for $75 million.
• Additional investments totaling $50 million to upgrade existing facilities.

Stock Performance

As of October 2023, Atkore's stock price stands at approximately $90, with a market capitalization of about $2.25 billion.

Financial Ratios