Atkore Inc. (ATKR)

Price$93.76Cached quoteAs of 2026-09-05 09:45 UTC

AI: Fair-priced

Price checkThe shares look fairly priced because the market already discounts only modest deal-closing risk.

Atkore has a signed all-cash agreement with Prysmian that would pay shareholders $95 per share, so the current market level sits only about 1.3% below the contractual consideration. The offer was about 30% above the pre-announcement close. That small spread suggests investors expect closing, but not certainty: shareholder and regulatory approvals remain conditions. If the deal failed and the stock merely returned to its pre-deal level, the drop would be about 22%. With limited upside and meaningful failure downside, Fair-priced best fits the evidence. StockAnalysis.com+3SEC+3SEC+3

Big pictureAtkore is recovering operationally, but profits remain far below the unusually strong 2021-2024 years.

Revenue rose from $1.77 billion in fiscal 2020 to $3.91 billion in fiscal 2022, then fell to $2.85 billion in fiscal 2025; reported EBITDA fell from $1.32 billion to $147.7 million over the latter comparison. Pasted text Third-quarter 2026 sales rose 8.1% year over year and adjusted EBITDA reached $104.7 million, showing recovery. Yet nine-month Electrical adjusted EBITDA fell 17.3% as input costs rose faster than selling prices. This history shows a cyclical, price-sensitive earnings base, so valuing Atkore on peak profits would be aggressive. investors.atkore.com+1

Business strengthLiquidity is solid and past buybacks helped owners, but recent cash generation has weakened sharply.

At June 2026, cash was $346 million against $760 million of debt, leaving about $414 million of net debt; current assets were $1.53 billion versus $558 million of current liabilities. Share count fell from 47.4 million in fiscal 2020 to 33.8 million, reflecting substantial repurchases, although buybacks were zero in the first three quarters of fiscal 2026 and stock compensation continued. Pasted text The weak spot is cash: nine-month operating cash flow was negative $90 million, versus positive $192 million a year earlier. SEC

What could change the storyDeal approval is the main catalyst; a break would put standalone earnings quality back in focus.

The bull case is straightforward: obtain shareholder and regulatory approvals and collect the fixed cash consideration, with no financing condition in the merger agreement. A superior offer is possible but constrained by a $115.92 million termination fee. The bear case is a delayed or failed transaction; then the market must value a business whose adjusted margins remain below prior years, input costs are pressuring profitability, and $186.5 million of U.S. PVC antitrust settlements have already absorbed cash. Regulatory progress and the shareholder vote are the clearest observable milestones. SEC+3SEC+3SEC+3

AI: News

Prysmian takeover agreementPrysmian agreed to buy Atkore for cash at a large premium, resetting the stock around deal value.

On August 3, Atkore announced a definitive all-cash sale to Prysmian with an enterprise value of about $3.8 billion and a per-share consideration 30% above the prior trading day’s close. The transaction is targeted to close by calendar year-end, subject to shareholder, regulatory and other customary approvals. ATKR closed 28.2% higher on the announcement day, a market move consistent with the new deal value becoming the dominant pricing anchor. SEC+1

Third-quarter operating reboundSales and adjusted profit improved year over year, supporting the recovery case beneath the merger.

Also on August 3, Atkore reported fiscal third-quarter sales of $794.8 million, up 8.1% from a year earlier, while adjusted EBITDA increased by $4.7 million to $104.7 million. Adjusted diluted earnings rose by $0.29 to $1.92 per share, even though reported net income was only $0.7 million. Electrical volume strengthened, but input costs still rose faster than selling prices, limiting margin recovery. investors.atkore.com+1

PVC settlements expandedAtkore settled three U.S. PVC antitrust classes, creating large cash costs despite stronger operating results.

The August quarterly filing showed proposed settlements totaling $186.5 million across three U.S. PVC antitrust plaintiff classes: $72.5 million, $64 million and $50 million. The first two amounts were recorded earlier and paid during the June quarter; the final $50 million was recorded in that quarter and paid afterward. Atkore admitted no liability. These payments help explain why nine-month operating cash flow turned negative even as underlying sales improved. SEC+1

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Financial statements

	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	$2.85B	$3.20B	$3.52B	$3.91B	$2.93B	$1.77B	$1.92B	$1.84B	$1.50B	$1.52B	$1.73B	$1.70B
Gross profit	$676.1M	$1.08B	$1.34B	$1.64B	$1.13B	$491.3M	$497.2M	$438.1M	$361.3M	$367.6M	$272.8M	$227.1M
Gross margin	23.72%	33.66%	38.07%	41.90%	38.44%	27.83%	25.94%	23.87%	24.02%	24.13%	15.78%	13.34%
Operating expenses	$652.9M	$453.1M	$446.0M	$406.2M	$326.7M	$251.8M	$273.5M	$258.4M	$205.3M	$242.1M	$235.9M	$246.1M
Operating income	$23.2M	$624.8M	$893.5M	$1.23B	$799.0M	$239.6M	$223.7M	$179.7M	$156.0M	$125.5M	$36.9M	−$19.0M
Operating margin	0.81%	19.51%	25.39%	31.52%	27.29%	13.57%	11.67%	9.79%	10.37%	8.24%	2.14%	−1.11%
EBITDA	$147.7M	$745.8M	$1.01B	$1.32B	$877.5M	$314.0M	$296.0M	$246.6M	$210.7M	$180.5M	$96.4M	$39.7M
EBITDA margin	5.18%	23.29%	28.68%	33.68%	29.97%	17.79%	15.45%	13.44%	14.01%	11.85%	5.58%	2.33%
Net income	−$15.2M	$472.9M	$689.9M	$913.4M	$587.9M	$152.3M	$139.1M	$136.6M	$84.6M	$58.8M	−$5.0M	−$73.9M
Net profit margin	−0.53%	14.77%	19.61%	23.34%	20.08%	8.63%	7.26%	7.45%	5.63%	3.86%	−0.29%	−4.34%
Basic EPSper basic share	-$0.45	$12.83	$17.51	$20.56	$12.38	$3.15	$2.91	$2.59	$1.33	$0.94	-$0.08	-$2.02
Diluted EPSper diluted share	-$0.45	$12.69	$17.27	$20.30	$12.19	$3.10	$2.83	$2.48	$1.27	$0.94	-$0.08	-$2.02

Review official source filings ↗

Owners

Reported shareholders

Reference date Jun 30, 2026

≈9.23%of listed shares

BlackRock, Inc.3.12M shares · Jun 30, 2026

View holders

Top 20 reported holders of ATKR
Holder	% owned
BlackRock, Inc.	≈9.23%3.12M shares
VANGUARD PORTFOLIO MANAGEMENT LLC	≈6.28%2.12M shares
AMERICAN CENTURY COMPANIES INC	≈5.26%1.78M shares
Gates Capital Management, Inc.	≈5.06%1.71M shares
VANGUARD CAPITAL MANAGEMENT LLC	≈4.51%1.52M shares
DIMENSIONAL FUND ADVISORS LP	≈3.85%1.3M shares
LSV ASSET MANAGEMENT	≈3.24%1.09M shares
STATE STREET CORP	≈2.68%906.42K shares
GEODE CAPITAL MANAGEMENT, LLC	≈2.67%902.49K shares
EARNEST PARTNERS LLC	≈2.29%772.29K shares
Hill City Capital, LP	≈2.14%724.11K shares
T. Rowe Price Investment Management, Inc.	≈1.92%647.88K shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	≈1.70%575.61K shares
Harding Loevner LP	≈1.68%567.19K shares
FIRST TRUST ADVISORS LP	≈1.58%533.06K shares
JPMORGAN CHASE & CO	≈1.54%520.86K shares
JACOBS LEVY EQUITY MANAGEMENT, INC	≈1.54%519.28K shares
Irenic Capital Management LP	≈1.50%507.61K shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	≈1.43%482.24K shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	≈1.34%453.96K shares

Percentages use 33.77M shares of this listed class outstanding on Jun 26, 2026. ≈ compares the latest reported holding with a share total from a different date; it is not a confirmed current stake.

Gray completes the 100% scale. Reported positions may overlap; holders have different reporting dates.

Source: SEC Form 13F ↗Updated Sep 29, 2026 · Quarterly data

Insider buys & sells

Jul 1, 2024–Jun 30, 2026

Buys0$0.00 disclosed value

Sells (SEC code S)14$14.72M disclosed value

Transaction	Insider	Type	Shares	Price	Value	Owned after
May 8, 2026Form 4	Kershaw Justin ADirector	SellCommon Stock	2.8K	$73.67	$206.2K	18.6K
May 8, 2026Form 4	James Wilbert W JrDirector	SellCommon Stock	3.3K	$73.61	$242.8K	17.1K
Feb 17, 2026Form 4 · 10b5-1	Lamps Mark F.Pres. Safety & Infrastructure	SellCommon Stock	1.0K	$65.78	$65.8K	36.0K
Nov 17, 2025Form 4 · 10b5-1	Lamps Mark F.Pres. Safety & Infrastructure	SellCommon Stock	1.0K	$64.75	$64.8K	29.9K
Aug 15, 2025Form 4 · 10b5-1	Lamps Mark F.Pres. Safety & Infrastructure	SellCommon Stock	1.0K	$59.37	$59.4K	31.9K

Review ownership filings at SEC.gov ↗

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Atkore Inc. (ATKR)

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