ATI Inc. $ATI Stake Trimmed by Candelo Capital Management LP

Candelo Capital Management LP reduced its position in ATI Inc. (NYSE:ATI) by 24.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,896 shares of the basic materials company’s stock after selling 19,377 shares during the quarter. ATI makes up about 4.3% of Candelo Capital Management LP’s investment portfolio, making the stock its 9th largest holding. Candelo Capital Management LP’s holdings in ATI were worth $4,953,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors lifted its stake in shares of ATI by 2.6% during the 3rd quarter. Capital International Investors now owns 17,147,559 shares of the basic materials company’s stock valued at $1,394,349,000 after buying an additional 436,131 shares in the last quarter. Capital World Investors increased its stake in ATI by 15.8% in the 3rd quarter. Capital World Investors now owns 7,900,572 shares of the basic materials company’s stock worth $642,633,000 after buying an additional 1,080,201 shares in the last quarter. Geode Capital Management LLC raised its holdings in ATI by 2.4% during the second quarter. Geode Capital Management LLC now owns 2,435,916 shares of the basic materials company’s stock valued at $210,353,000 after acquiring an additional 57,883 shares during the period. Dimensional Fund Advisors LP raised its holdings in ATI by 7.1% during the third quarter. Dimensional Fund Advisors LP now owns 2,142,000 shares of the basic materials company’s stock valued at $174,210,000 after acquiring an additional 142,696 shares during the period. Finally, Norges Bank purchased a new position in shares of ATI in the second quarter valued at about $146,726,000.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 53,862 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $109.48, for a total value of $5,896,811.76. Following the completion of the transaction, the chairman directly owned 132,676 shares of the company’s stock, valued at approximately $14,525,368.48. This trade represents a 28.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David J. Morehouse sold 6,609 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $154.25, for a total transaction of $1,019,438.25. Following the completion of the sale, the director owned 38,168 shares in the company, valued at $5,887,414. This represents a 14.76% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

ATI Trading Down 2.8%

Shares of ATI stock opened at $141.94 on Friday. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $168.14. The company has a quick ratio of 1.27, a current ratio of 2.66 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average price of $137.91 and a 200-day moving average price of $108.65. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of 49.98, a PEG ratio of 1.41 and a beta of 0.95.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, February 3rd. The basic materials company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. ATI had a return on equity of 24.26% and a net margin of 8.81%.The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. ATI has set its FY 2026 guidance at 3.990-4.270 EPS and its Q1 2026 guidance at 0.830-0.890 EPS. Equities research analysts anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.

ATI announced that its board has authorized a share repurchase program on Thursday, February 19th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on ATI from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. KeyCorp lifted their target price on ATI from $120.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Wall Street Zen downgraded ATI from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. BTIG Research increased their price objective on shares of ATI from $120.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of ATI in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $133.00.

About ATI

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.