Atkore Inc. (NYSE: ATKR) is a standout holding within the TAMIM Global Tech and Innovation Fund, managed by Ryan Mahon. As a global leader in electrical and mechanical products, Atkore operates across critical industries such as data centers, telecommunications, and renewable energy. Balancing operational excellence with exposure to long-term growth drivers, the company exemplifies the fund’s focus on transformative themes sitting at the intersection of both the Technology & Energy pillars, and as a prime beneficiary of the upcoming reshoring acceleration. 
Diverse Product Portfolio Driving Resilience
Atkore’s comprehensive portfolio includes conduits, cables, metal framing, perimeter security, and cable management solutions. These products are indispensable for industries undergoing infrastructure upgrades and modernisation, particularly in areas like data centres, solar energy, and telecommunications. Atkore’s ability to provide a one-stop solution for its clients positions it as a key player in addressing the evolving needs of these sectors. As a U.S.-based manufacturer with a strong domestic presence, Atkore is well-positioned to benefit from the reshoring and reindustrialisation trends which will likely dramatically accelerate under the Trump administration. In addition, the company’s extensive product portfolio and manufacturing capabilities make it a key supplier for infrastructure development, electr ification projects, and industrial automation initiatives. This diversified approach mitigates risks tied to any one segment, ensuring resilience even in volatile market conditions.
Strategic Measures to Enhance Shareholder Value
Atkore has demonstrated a strong commitment to creating value for its shareholders through a series of proactive initiatives:
- Dividend Program: In 2024, Atkore launched a quarterly cash dividend program, signaling confidence in its cash flow generation and commitment to returning capital to shareholders.
- Share Buyback Plan: A newly authorised $500 million share repurchase program underscores management’s belief in the company’s long-term growth potential.
- Operational Efficiency: The company continues to streamline operations, driving productivity and reducing costs without compromising innovation or customer service.
These measures highlight Atkore’s disciplined approach to capital allocation, which has been instrumental in maintaining investor confidence and positioning the company for sustained growth across cycles.
Financial Performance and Growth Potential
Although Atkore reported a slight decline in revenue and net income for fiscal 2024 primarily due to pricing pressures and industrial challenges, the company remains highly profitable, with $472.9 million in net income. This decline is largely cyclical, does not detract from the company’s long-term growth trajectory, and is one of the reasons why we view now as a unique opportunity to evaluate a position. Atkore has maintained robust free cash flow, enabling reinvestment in high-growth areas while rewarding shareholders. Its financial strength positions it to capitalise on future opportunities, particularly in data centre infrastructure and renewable energy.
Why Atkore could be a Top Pick for 2025
Atkore stands out as a top pick for 2025 due to its strong market position, exposure to high-growth industries, and commitment to innovation. Key reasons include:
- Riding Market Tailwinds: The rapid expansion of data centres (driven by both reshoring and AI-driven rearchitecting), renewable energy projects, and telecommunications infrastructure provides a strong growth runway for Atkore’s products and solutions.
- Reshoring and Reindustrialisation: As the U.S. focuses on reshoring and domestic infrastructure investment, Atkore is a direct beneficiary of these macroeconomic trends.
- Multiple Pillars: Atkore hits multiple pillars central to TAMIM’s investment philosophy Technology and Energy aligning it with the fund’s transformative focus.
- Attractive Valuation: With a favourable 12-month analyst price target above current levels, Atkore presents a compelling investment opportunity.
- Strategic Positioning: Likely to find a bottom in early 2025, Atkore is well-positioned for a multi-year push as a core beneficiary of policy tailwinds, including the Trump administration’s agenda to drive industrial growth.
A Strategic Holding in the TAMIM Global Tech and Innovation Fund
As part of the TAMIM Global Tech and Innovation Fund, Atkore aligns perfectly with our investment philosophy of identifying businesses at the forefront of technological transformation. Its role within the fund reflects its potential to benefit from transformative trends in Technology and Energy. Under the guidance of Ryan Mahon, the fund seeks companies with strong fundamentals and exposure to long-term growth opportunities. Atkore’s innovative solutions, market leadership, and ability to adapt to evolving trends underscore why it is an important holding in the portfolio.
The TAMIM Takeaway
Atkore Inc. is a story of resilience, innovation, and growth. Its diversified portfolio ensures relevance across multiple high-growth industries, while its proactive initiatives demonstrate a clear commitment to enhancing shareholder value. Looking ahead, Atkore’s strong fundamentals, market tailwinds, and alignment with major policy initiatives position it as one of the most compelling opportunities in the TAMIM Global Tech and Innovation Fund. For investors seeking exposure to transformative sectors with the potential for sustained growth, Atkore has the potential to be a top stock to watch for 2025 and beyond. ___________________________________________________________________________________________________ Disclaimer: Atkore (NYSE: ATKR) is held in TAMIM Portfolios as at date of article publication. Holdings can change substantially at any given time.