Company Overview - Atkore is a manufacturer of electrical products for construction and renovation markets, as well as safety and infrastructure products for construction and industrial markets [1][4] - The company operates in two segments: electrical and safety & infrastructure, with a total of 42 manufacturing facilities across eight countries [1][4] - The electrical segment focuses on products for electrical power systems, while the safety & infrastructure segment provides solutions for critical infrastructure protection [1][4] Financial Performance - From fiscal year 2019 to 2022, Atkore's revenue increased from $1.9 billion to $3.9 billion, and EBITDA rose from $300 million to $1.3 billion [5] - However, revenue has since declined to $2.9 billion and EBITDA to $462 million due to normalized demand post-COVID and aggressive pricing strategies that invited import competition [5][6] - SG&A expenses have increased despite the revenue decline, and the company's headcount has risen over 40% [6] Strategic Challenges - Atkore's management has been criticized for misallocating capital, focusing on non-core ventures instead of investing in its core electrical business [6][7] - The company is currently facing operational and capital challenges, compounded by the unexpected retirement of CEO Bill Waltz without a successor [6][7] - Atkore's stock price has dropped from around $190 per share in early 2024 to approximately $60 per share [6] Activist Involvement - Irenic Capital Management has taken a 2.5% position in Atkore and is urging the company to consider a potential sales process [3][7] - The board is at a critical juncture, needing to decide whether to remain independent or pursue a sale, while also identifying a new CEO [8][9] - Irenic's experience in strategic activism may influence board composition and decision-making regarding the company's future [13] Strategic Alternatives - Atkore currently trades at approximately 6.5x EBITDA, with potential for private equity takeout at 8 to 10 times EBITDA [9] - A standalone plan would require identifying a new CEO to realign the company's focus, cut costs, and divest non-core assets [10][12] - The company has initiated a strategic review focused on non-core asset sales, including its water conduit business, but this process may be perceived as rushed without a permanent CEO [12]

Group 1 - Broadcom's stock (NASDAQ: AVGO) has increased nearly 20% in one month, driven by an optimistic outlook and a new $10 billion client contract [2] - The stock's trailing price-to-earnings (P/E) ratio has risen to 91, prompting a comparison with peers like NVIDIA, Qualcomm, Intel, and Cisco regarding size, valuation, growth, and margins [2][3] - Broadcom's revenue growth over the past 12 months is 28.0%, which is robust compared to competitors like Cisco, IBM, Qualcomm, and Intel, but lags behind NVIDIA [6] Group 2 - Broadcom's operating margin stands at 39.0%, which is high but lower than NVIDIA's 58.1% [6] - The stock has seen a significant increase of 119.6% in the last year, currently trading with a P/E of 90.7, outperforming its peers [6] - The Trefis High Quality Portfolio, which includes Broadcom, has a history of outperforming benchmarks like the S&P 500, S&P mid-cap, and Russell 2000 indices, indicating lower risk and superior returns [7]

Copper wire and cable maker Southwire is praising the Trump administration for adding import tariffs on aluminum and copper derivative products, saying it'll help American manufacturers https://t.co/idWsAghfKR ...