Assenagon Asset Management S.A. Boosts Stake in ATI Inc. $ATI

Key Points

• Assenagon Asset Management S.A. massively increased its ATI stake in Q1, boosting holdings by 2,162.1% to 584,030 shares worth about $84.95 million.
• ATI shares were down 1.2% in Thursday trading, even though the stock has climbed to near its 52-week high of $205.31 and trades above both its 50-day and 200-day moving averages.
• ATI beat Q1 earnings expectations with $1.00 EPS versus the $0.88 estimate, but revenue came in slightly below forecasts; the company also issued Q2 and FY2026 guidance and received a mixed analyst response with a consensus Moderate Buy rating.

Assenagon Asset Management S.A. increased its stake in ATI Inc. (NYSE:ATI - Free Report) by 2,162.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 584,030 shares of the basic materials company's stock after purchasing an additional 558,212 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.43% of ATI worth $84,953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ATI. Wealth Enhancement Advisory Services LLC raised its position in shares of ATI by 53.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,648 shares of the basic materials company's stock valued at $3,103,000 after purchasing an additional 8,939 shares during the period. Nordea Investment Management AB bought a new position in ATI in the 4th quarter worth $6,114,000. Northwestern Mutual Wealth Management Co. boosted its holdings in ATI by 456.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 129,617 shares of the basic materials company's stock worth $14,875,000 after buying an additional 106,343 shares during the period. Intech Investment Management LLC increased its stake in ATI by 96.6% in the 3rd quarter. Intech Investment Management LLC now owns 52,090 shares of the basic materials company's stock worth $4,237,000 after buying an additional 25,590 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in ATI by 1,062.0% in the 4th quarter. SG Americas Securities LLC now owns 68,417 shares of the basic materials company's stock worth $7,852,000 after buying an additional 62,529 shares in the last quarter.

ATI Trading Down 1.2%

Shares of ATI stock opened at $197.22 on Thursday. The company has a current ratio of 2.67, a quick ratio of 1.17 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $26.91 billion, a price-to-earnings ratio of 65.30, a price-to-earnings-growth ratio of 1.72 and a beta of 0.96. ATI Inc. has a 12-month low of $70.42 and a 12-month high of $205.31. The stock's 50-day moving average price is $170.70 and its 200-day moving average price is $147.13.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.12. ATI had a return on equity of 26.44% and a net margin of 9.26%.The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the business posted $0.72 EPS. The firm's revenue for the quarter was up .6% compared to the same quarter last year. ATI has set its Q2 2026 guidance at 0.980-1.040 EPS and its FY 2026 guidance at 4.200-4.480 EPS. Equities research analysts predict that ATI Inc. will post 4.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings downgraded ATI from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. JPMorgan Chase & Co. increased their target price on ATI from $150.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Wells Fargo & Company initiated coverage on ATI in a research note on Wednesday, April 1st. They set an "overweight" rating and a $175.00 target price on the stock. Zacks Research cut ATI from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, Wall Street Zen lowered shares of ATI from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.38.

Insider Activity at ATI

In other news, CEO Kimberly A. Fields sold 59,749 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $179.07, for a total transaction of $10,699,253.43. Following the completion of the transaction, the chief executive officer directly owned 218,014 shares in the company, valued at approximately $39,039,766.98. This represents a 21.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 120,442 shares of company stock worth $21,219,431. 0.98% of the stock is currently owned by corporate insiders.

ATI Company Profile

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.

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