Bowen Hanes & Co. Inc. Increases Position in ATI Inc. $ATI

Key Points

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Bowen Hanes & Co. Inc. raised its holdings in ATI Inc. (NYSE:ATI - Free Report) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,371,335 shares of the basic materials company's stock after buying an additional 4,420 shares during the period. ATI makes up approximately 2.0% of Bowen Hanes & Co. Inc.'s portfolio, making the stock its 16th largest position. Bowen Hanes & Co. Inc. owned 0.97% of ATI worth $71,351,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its position in shares of ATI by 104.1% during the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock worth $31,000 after purchasing an additional 304 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of ATI by 139.9% during the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock worth $34,000 after purchasing an additional 386 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in shares of ATI during the 1st quarter worth $36,000. Headlands Technologies LLC purchased a new stake in shares of ATI during the 1st quarter worth $47,000. Finally, Fifth Third Bancorp lifted its position in shares of ATI by 115.7% during the 1st quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock worth $58,000 after purchasing an additional 603 shares during the last quarter.

Insider Transactions at ATI

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total value of $3,733,000.00. Following the completion of the sale, the chairman directly owned 306,538 shares of the company's stock, valued at approximately $22,886,127.08. This represents a 14.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Morehouse sold 7,900 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $75.81, for a total transaction of $598,899.00. Following the completion of the sale, the director directly owned 44,777 shares of the company's stock, valued at $3,394,544.37. The trade was a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 157,900 shares of company stock valued at $12,610,399 over the last ninety days. Corporate insiders own 1.10% of the company's stock.

ATI Stock Performance

ATI traded up $1.8820 on Friday, reaching $73.6820. The company had a trading volume of 1,756,799 shares, compared to its average volume of 2,431,182. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $96.20. The stock has a market capitalization of $10.16 billion, a PE ratio of 25.58, a P/E/G ratio of 1.01 and a beta of 1.20. The company has a quick ratio of 1.20, a current ratio of 2.52 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average price of $83.49 and a 200-day moving average price of $68.97.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. ATI had a net margin of 9.26% and a return on equity of 21.34%. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the previous year, the company earned $0.60 earnings per share. ATI's quarterly revenue was up 4.1% compared to the same quarter last year. ATI has set its FY 2025 guidance at 2.900-3.07 EPS. Q3 2025 guidance at 0.690-0.75 EPS. As a group, research analysts forecast that ATI Inc. will post 2.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ATI. KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. Barclays lifted their price objective on shares of ATI from $75.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Zacks Research raised shares of ATI to a "hold" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price objective on shares of ATI from $75.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of ATI and gave the stock a "hold" rating in a research report on Tuesday, July 8th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, ATI presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.29.

About ATI

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.