1,767,047 Shares in ATI Inc. $ATI Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 1.77 million ATI shares worth approximately $348.3 million, giving it a 1.30% stake in the specialty materials manufacturer.
• Analysts remain bullish on ATI, with multiple firms raising price targets to as high as $270. The stock has a consensus “Buy” rating and an average target price of $232.
• ATI reported stronger-than-expected quarterly results, with earnings of $1.23 per share and revenue of $1.26 billion, up 10.6% year over year; however, company insiders have sold roughly $33.9 million of shares in the past 90 days.

Bank of America Corp DE purchased a new position in ATI Inc. (NYSE:ATI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,767,047 shares of the basic materials company's stock, valued at approximately $348,285,000. Bank of America Corp DE owned 1.30% of ATI at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ATI. Signature Equity Partners LLC increased its holdings in ATI by 208.5% in the 1st quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 123 shares during the last quarter. CoreCap Advisors LLC purchased a new position in shares of ATI during the second quarter valued at about $30,000. Summit Securities Group LLC purchased a new position in shares of ATI during the first quarter valued at about $60,000. Hollencrest Capital Management increased its holdings in shares of ATI by 283.1% in the first quarter. Hollencrest Capital Management now owns 452 shares of the basic materials company's stock worth $66,000 after purchasing an additional 334 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in shares of ATI by 137.3% in the fourth quarter. Clearstead Advisors LLC now owns 598 shares of the basic materials company's stock worth $69,000 after purchasing an additional 346 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently commented on ATI. Susquehanna increased their price target on ATI from $215.00 to $265.00 and gave the company a "positive" rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $262.00 price objective on shares of ATI in a research note on Monday, August 10th. Wall Street Zen raised ATI from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. BTIG Research upped their price objective on ATI from $180.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Weiss Ratings upgraded ATI from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $232.00.

ATI Trading Up 1.7%

ATI stock opened at $189.94 on Thursday. The company has a quick ratio of 1.14, a current ratio of 2.33 and a debt-to-equity ratio of 0.91. ATI Inc. has a twelve month low of $75.02 and a twelve month high of $243.57. The stock has a market capitalization of $25.86 billion, a price-to-earnings ratio of 55.70, a price-to-earnings-growth ratio of 1.13 and a beta of 1.01. The firm's fifty day simple moving average is $203.41 and its two-hundred day simple moving average is $179.33.

ATI (NYSE:ATI - Get Free Report) last announced its earnings results on Thursday, August 6th. The basic materials company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.20. ATI had a net margin of 10.09% and a return on equity of 29.27%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The business's revenue for the quarter was up 10.6% on a year-over-year basis. ATI has set its Q3 2026 guidance at 1.310-1.370 EPS and its FY 2026 guidance at 4.900-5.180 EPS. As a group, analysts anticipate that ATI Inc. will post 5.11 earnings per share for the current year.

Insider Buying and Selling

In other ATI news, Director David Morehouse sold 2,485 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $201.61, for a total value of $501,000.85. Following the completion of the sale, the director owned 35,826 shares of the company's stock, valued at $7,222,879.86. This trade represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Timothy Harris sold 16,500 shares of the business's stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $193.06, for a total value of $3,185,490.00. Following the transaction, the vice president owned 97,187 shares of the company's stock, valued at $18,762,922.22. This trade represents a 14.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 169,280 shares of company stock valued at $33,853,428 in the last ninety days. 0.98% of the stock is owned by company insiders.

ATI Company Profile

ATI Inc NYSE: ATI is a specialty materials and components manufacturer serving aerospace and defense, medical, energy, transportation, and other demanding industrial markets. The company develops and produces advanced alloys and engineered materials designed to perform in high-temperature, corrosive, and high-stress environments.

ATI's products include nickel-based superalloys, titanium and titanium-based materials, specialty stainless steels, zirconium and other specialty alloys. Its manufacturing capabilities also include precision forgings, castings, rolled products, and machined components used in aircraft engines, airframes, power-generation equipment, medical devices, and industrial applications.

The company was formed in 1996 through the combination of Allegheny Ludlum Corporation and Teledyne, Inc's specialty metals operations and adopted the name ATI Inc in 2021.

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