Catalyst Funds Management Pty Ltd Sells 11,300 Shares of ATI Inc. $ATI

Key Points

• Catalyst Funds Management slashed its ATI stake by 84.3% in the fourth quarter, selling 11,300 shares and ending with 2,100 shares worth about $241,000.
• Several other institutions recently adjusted positions in ATI, with firms like Goldman Sachs and Royal Bank of Canada increasing their holdings, suggesting continued investor interest in the stock.
• ATI reported Q1 earnings of $1.00 per share, beating estimates, and the company also announced a $500 million share repurchase program while maintaining full-year guidance of $4.20 to $4.48 EPS.

Catalyst Funds Management Pty Ltd reduced its position in ATI Inc. (NYSE:ATI - Free Report) by 84.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,100 shares of the basic materials company's stock after selling 11,300 shares during the quarter. Catalyst Funds Management Pty Ltd's holdings in ATI were worth $241,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ATI. Royal Bank of Canada lifted its position in ATI by 8.1% during the first quarter. Royal Bank of Canada now owns 60,369 shares of the basic materials company's stock valued at $3,140,000 after purchasing an additional 4,542 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of ATI by 49.4% in the first quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company's stock worth $32,984,000 after buying an additional 209,480 shares during the period. Cetera Investment Advisers purchased a new position in shares of ATI in the second quarter worth $324,000. M&T Bank Corp purchased a new position in shares of ATI in the second quarter worth $317,000. Finally, First Trust Advisors LP increased its position in ATI by 4.9% during the 2nd quarter. First Trust Advisors LP now owns 197,214 shares of the basic materials company's stock valued at $17,028,000 after purchasing an additional 9,234 shares during the period.

Analyst Ratings Changes

A number of research analysts have issued reports on ATI shares. Wells Fargo & Company started coverage on shares of ATI in a research report on Wednesday, April 1st. They set an "overweight" rating and a $175.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of ATI from $150.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Weiss Ratings reiterated a "buy (b-)" rating on shares of ATI in a research note on Friday. Wall Street Zen cut shares of ATI from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Zacks Research cut shares of ATI from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, ATI presently has an average rating of "Buy" and an average target price of $164.38.

Insider Buying and Selling

In other news, CEO Kimberly A. Fields sold 40,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 277,763 shares in the company, valued at approximately $44,222,647.23. This represents a 12.59% 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. Also, Director David J. Morehouse sold 6,609 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $154.25, for a total value of $1,019,438.25. Following the transaction, the director owned 38,168 shares of the company's stock, valued at $5,887,414. This represents a 14.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.98% of the company's stock.

ATI Trading Up 0.0%

ATI stock opened at $162.33 on Tuesday. The company has a current ratio of 2.67, a quick ratio of 1.17 and a debt-to-equity ratio of 0.95. ATI Inc. has a 12-month low of $70.42 and a 12-month high of $171.11. The firm has a 50 day moving average of $153.69 and a 200 day moving average of $133.37. The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of 53.75, a P/E/G ratio of 1.40 and a beta of 0.94.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.12. ATI had a net margin of 9.26% and a return on equity of 26.44%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm posted $0.72 EPS. The company'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. As a group, research analysts predict that ATI Inc. will post 4.43 earnings per share for the current year.

ATI announced that its Board of Directors has initiated a share repurchase program on Thursday, February 19th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

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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