Concentric Capital Strategies LP Invests $18.59 Million in ATI Inc. $ATI

Key Points

• Concentric Capital Strategies LP opened a new position in ATI Inc. in the fourth quarter, buying 161,956 shares worth about $18.6 million. The stake represents about 0.12% of ATI and 0.9% of the fund’s portfolio.
• ATI has attracted additional institutional interest, with major investors like Norges Bank, Capital World Investors, Holocene Advisors, AQR Capital Management, and UBS Group all recently increasing or initiating positions.
• The company recently reported better-than-expected earnings of $1.00 per share and has launched a $500 million share buyback program, while analysts currently rate the stock a consensus Buy.

Concentric Capital Strategies LP acquired a new position in ATI Inc. (NYSE:ATI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 161,956 shares of the basic materials company's stock, valued at approximately $18,586,000. ATI makes up 0.9% of Concentric Capital Strategies LP's portfolio, making the stock its 16th largest holding. Concentric Capital Strategies LP owned approximately 0.12% of ATI as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ATI. Norges Bank acquired a new stake in shares of ATI in the fourth quarter worth $198,787,000. Capital World Investors grew its holdings in ATI by 15.8% during 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 purchasing an additional 1,080,201 shares in the last quarter. Holocene Advisors LP grew its holdings in ATI by 153.7% during 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 purchasing an additional 929,333 shares in the last quarter. AQR Capital Management LLC grew its holdings in ATI by 684.9% during the 4th quarter. AQR Capital Management LLC now owns 1,019,840 shares of the basic materials company's stock valued at $117,037,000 after purchasing an additional 889,912 shares in the last quarter. Finally, UBS Group AG grew its holdings in ATI by 143.3% during 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 purchasing an additional 702,656 shares in the last quarter.

ATI Price Performance

Shares of ATI stock opened at $196.86 on Thursday. The firm has a market cap of $26.86 billion, a P/E ratio of 65.18, a P/E/G ratio of 1.69 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.67 and a quick ratio of 1.17. ATI Inc. has a 1-year low of $70.42 and a 1-year high of $203.60. The firm has a fifty day moving average of $166.41 and a two-hundred day moving average of $143.57.

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 for the quarter, topping the consensus estimate of $0.88 by $0.12. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.19 billion. ATI had a net margin of 9.26% and a return on equity of 26.44%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. 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 anticipate that ATI Inc. will post 4.43 earnings per share for the current fiscal year.

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

Insider Activity

In other news, CEO Kimberly A. Fields sold 59,749 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $179.07, for a total value of $10,699,253.43. Following the transaction, the chief executive officer directly owned 218,014 shares in the company, valued at approximately $39,039,766.98. This trade represents a 21.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.98% of the company's stock.

Analyst Upgrades and Downgrades

ATI has been the subject of a number of recent analyst reports. Susquehanna raised their price target on shares of ATI from $155.00 to $185.00 and gave the company a "positive" rating in a report on Friday, April 10th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of ATI in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $194.00 price target on shares of ATI in a report on Friday, May 1st. Zacks Research lowered shares of ATI from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of ATI from $150.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, May 1st. One equities research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $164.38.

About ATI

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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