Bowen Hanes & Co. Inc. Sells 151,515 Shares of ATI Inc. $ATI

Key Points

• Bowen Hanes & Co. Inc. cut its ATI stake by 11.4% in the fourth quarter, selling 151,515 shares but still holding 1.18 million shares worth about $135.2 million. ATI remains the fund’s third-largest holding.
• ATI reported strong quarterly earnings, posting $1.00 EPS versus the $0.88 estimate, though revenue of $1.15 billion came in slightly below expectations. The company also raised guidance, forecasting Q2 2026 EPS of $0.98-$1.04 and full-year 2026 EPS of $4.20-$4.48.
• Wall Street sentiment is generally positive, with analysts maintaining a consensus Buy rating and an average price target of $164.38. ATI has also authorized a $500 million share buyback program, signaling management sees the stock as undervalued.

Bowen Hanes & Co. Inc. trimmed its position in ATI Inc. (NYSE:ATI - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,177,705 shares of the basic materials company's stock after selling 151,515 shares during the period. ATI accounts for approximately 3.4% of Bowen Hanes & Co. Inc.'s investment portfolio, making the stock its 3rd biggest holding. Bowen Hanes & Co. Inc. owned about 0.87% of ATI worth $135,153,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ATI. Norges Bank acquired a new position in shares of ATI in the 4th quarter valued at $198,787,000. Capital World Investors increased its position in shares of ATI by 15.8% in the 3rd quarter. Capital World Investors now owns 7,900,572 shares of the basic materials company's stock valued at $642,633,000 after acquiring an additional 1,080,201 shares during the period. Holocene Advisors LP increased its position in shares of ATI by 153.7% in the 3rd quarter. Holocene Advisors LP now owns 1,534,114 shares of the basic materials company's stock valued at $124,785,000 after acquiring an additional 929,333 shares during the period. UBS Group AG increased its position in shares of ATI by 143.3% in the 4th quarter. UBS Group AG now owns 1,193,129 shares of the basic materials company's stock valued at $136,923,000 after acquiring an additional 702,656 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of ATI by 552.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 720,224 shares of the basic materials company's stock valued at $62,184,000 after acquiring an additional 609,874 shares during the period.

ATI Price Performance

NYSE:ATI opened at $180.40 on Thursday. ATI Inc. has a one year low of $70.42 and a one year high of $183.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.17 and a current ratio of 2.67. The firm has a market cap of $24.62 billion, a price-to-earnings ratio of 59.74, a PEG ratio of 1.54 and a beta of 0.96. The firm's fifty day moving average is $157.65 and its two-hundred day moving average is $137.16.

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

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

Insider Activity

In other news, Director David J. Morehouse sold 6,609 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $154.25, for a total transaction of $1,019,438.25. Following the sale, the director directly owned 38,168 shares of the company's stock, valued at $5,887,414. This represents a 14.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kimberly A. Fields sold 40,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $159.21, for a total transaction of $6,368,400.00. Following the sale, the chief executive officer directly owned 277,763 shares in the company, valued at approximately $44,222,647.23. The trade was a 12.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.98% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on ATI from $150.00 to $175.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Zacks Research downgraded ATI from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Weiss Ratings reissued a "buy (b-)" rating on shares of ATI in a research report on Friday, May 22nd. Wall Street Zen lowered shares of ATI from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Finally, BTIG Research upped their price target on shares of ATI from $165.00 to $180.00 and gave the company a "buy" rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, ATI currently has a consensus rating of "Buy" and an average target price of $164.38.

ATI 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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