Van ECK Associates Corp Increases Holdings in Atkore by 283.4% in Q1
August 12, 2023
🌥️Trending News
Atkore Inc ($NYSE:ATKR)., an industry leader in electrical raceway and mechanical products and services for the non-residential construction and renovation markets, has had significant positive news reported about it recently. According to its most recent 13F filing with the SEC, Van ECK Associates Corp has increased its holdings in Atkore Inc. by a staggering 283.4%. This news is a strong indicator of confidence in the company, as well as a sign of growth potential in the stock.
Van ECK has made an impressive investment in Atkore Inc., and this could be seen as a signal that other investors may follow suit. The large increase in holdings could also be seen as an indication of Van ECK’s confidence in the potential of Atkore Inc. and suggests that it could be a great stock to watch in the near future.
Analysis
At GoodWhale, we recently conducted an analysis of ATKORE INC‘s wellbeing in terms of financial and business aspects. Our Risk Rating system has determined that ATKORE INC is a medium risk investment. This means that investors should exercise caution before investing in this company, as there is some risk involved. We have also detected two risk warnings in the company’s balance sheet and financial journal – register with us to find out more. Our team is here to guide you through the process and provide advice on how best to approach this investment opportunity. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Atkore Inc. More…
| Total Revenues | Net Income | Net Margin |
| 3.68k | 757.86 | 21.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Atkore Inc. More…
| Operations | Investing | Financing |
| 978.81 | -312 | -534.57 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Atkore Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.8k | 1.39k | 37.38 |
Key Ratios Snapshot
Some of the financial key ratios for Atkore Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 27.1% | 65.3% | 27.0% |
| FCF Margin | ROE | ROA |
| 21.8% | 45.3% | 22.2% |
Peers
The competition between Atkore Inc and its competitors is fierce. All four companies are vying for market share in the highly competitive electrical industry. AZZ Inc, Global Electrical Technology Corp, and nVent Electric PLC are all major players in the industry. Each company has its own strengths and weaknesses, and each is fighting for a piece of the pie.
– AZZ Inc ($NYSE:AZZ)
JAZZ Inc has a market cap of 905.23M as of 2022, a Return on Equity of 13.2%. The company is a leading provider of innovative medical solutions that improve patient outcomes and lower the cost of care. JAZZ’s products and services include medical devices, software, services, and supplies used in the diagnosis and treatment of a wide range of conditions.
– Global Electrical Technology Corp ($HNX:GLT)
PLC is a publicly traded company with a market capitalization of 5.52 billion as of 2022. The company has a return on equity of 9.24%. PLC is engaged in the business of manufacturing and selling electrical products and services. The company’s products and services include electrical power distribution and control equipment, lighting and lighting controls, electrical wiring devices, and other electrical products and services.
Summary
ATKORE Inc. is a leading manufacturer of electrical conduit and cable management solutions. This suggests that the company is a smart investment opportunity for the long term. Investors should look closely at the company’s financials, including their quarterly and annual earnings, as well as their cash flow and balance sheets. Additionally, they should consider ATKORE’s competitive landscape, its management team’s strategy and track record of success, and its overall financial position.
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