ATI Inc. $ATI is Channing Capital Management LLC's 4th Largest Position

Key Points

• Channing Capital Management LLC reduced its stake in ATI Inc. by 7.2% in Q1, holding 1,553,796 shares valued at approximately $80.84 million, making it the firm's 4th largest investment.
• Insider trading activity has been notable, with Chairman Robert S. Wetherbee selling 50,000 shares at an average price of $83.93, representing a 12.3% decrease in his ownership.
• ATI's recent quarterly earnings showed a profit of $0.74 per share, beating estimates, and set a fiscal year 2025 EPS guidance between 2.900 and 3.070.

Channing Capital Management LLC decreased its holdings in ATI Inc. (NYSE:ATI - Free Report) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,553,796 shares of the basic materials company's stock after selling 120,665 shares during the period. ATI comprises about 2.4% of Channing Capital Management LLC's investment portfolio, making the stock its 4th biggest holding. Channing Capital Management LLC owned 1.10% of ATI worth $80,844,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Maven Securities LTD lifted its position in shares of ATI by 4.4% in the first quarter. Maven Securities LTD now owns 5,848 shares of the basic materials company's stock valued at $304,000 after acquiring an additional 248 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of ATI by 1.6% in the first quarter. Nisa Investment Advisors LLC now owns 17,261 shares of the basic materials company's stock valued at $898,000 after acquiring an additional 265 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of ATI by 104.1% in the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock valued at $31,000 after acquiring an additional 304 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of ATI by 139.9% in the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock worth $34,000 after buying an additional 386 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of ATI by 115.7% in the first quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock worth $58,000 after buying an additional 603 shares in the last quarter.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $83.93, for a total value of $4,196,500.00. Following the transaction, the chairman owned 356,538 shares of the company's stock, valued at $29,924,234.34. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David J. Morehouse sold 7,900 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.81, for a total value of $598,899.00. Following the completion of the transaction, the director directly owned 44,777 shares in the company, valued at approximately $3,394,544.37. This trade represents a 15.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 157,900 shares of company stock worth $12,610,399. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

ATI has been the topic of several analyst reports. Barclays boosted their price objective on ATI from $75.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. BTIG Research set a $120.00 price objective on ATI and gave the stock a "buy" rating in a research note on Monday, August 4th. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Zacks Research raised ATI to a "hold" rating in a research note on Tuesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 price objective on ATI and gave the stock a "hold" rating in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $93.29.

ATI Trading Down 0.7%

Shares of ATI traded down $0.5060 during mid-day trading on Monday, reaching $73.2040. 1,002,507 shares of the company's stock traded hands, compared to its average volume of 2,062,887. The stock has a market cap of $10.09 billion, a P/E ratio of 25.42, a P/E/G ratio of 1.01 and a beta of 1.20. The stock's 50-day moving average is $83.49 and its two-hundred day moving average is $68.97. ATI Inc. has a 12 month low of $39.23 and a 12 month high of $96.20. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.52 and a quick ratio of 1.20.

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

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.