Corebridge Financial Inc. Grows Stock Holdings in ATI Inc. $ATI

Key Points

• Corebridge Financial Inc. significantly increased its stake in ATI Inc. by 2,574.1% in Q1, now owning 157,425 shares valued at approximately $8.19 million.
• Multiple hedge funds, including Invesco Ltd. and Ameriprise Financial Inc., also raised their holdings in ATI, indicating growing institutional interest in the company.
• ATI reported earnings of $0.74 per share for the last quarter, surpassing analyst expectations, and has set its FY 2025 guidance between 2.900-3.07 EPS.

Corebridge Financial Inc. lifted its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 2,574.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 157,425 shares of the basic materials company's stock after purchasing an additional 151,538 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of ATI worth $8,191,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Golden State Wealth Management LLC lifted its holdings 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 acquiring an additional 304 shares during the period. Bessemer Group Inc. grew its position in ATI by 139.9% in the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 386 shares in the last quarter. Olde Wealth Management LLC acquired a new stake in ATI in the first quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new stake in ATI in the first quarter valued at approximately $47,000. Finally, Fifth Third Bancorp boosted its stake 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 valued at $58,000 after buying an additional 603 shares during the last quarter.

Analyst Upgrades and Downgrades

ATI has been the topic of several research analyst reports. Zacks Research upgraded ATI to a "hold" rating in a research note on Tuesday, August 12th. BTIG Research set a $120.00 price target on ATI and gave the stock a "buy" rating in a research note on Monday, August 4th. Citigroup raised ATI to a "positive" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price target on ATI from $75.00 to $92.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a report on Tuesday, May 20th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.29.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $74.66, for a total value of $3,733,000.00. Following the transaction, the chairman owned 306,538 shares in the company, valued at approximately $22,886,127.08. This represents a 14.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David J. Morehouse sold 7,900 shares of the stock in a transaction 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 sale, the director owned 44,777 shares in the company, valued at approximately $3,394,544.37. This represents a 15.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 157,900 shares of company stock valued at $12,610,399 over the last three months. Corporate insiders own 1.10% of the company's stock.

ATI Price Performance

Shares of ATI traded down $0.93 during midday trading on Friday, hitting $77.54. The company's stock had a trading volume of 2,165,264 shares, compared to its average volume of 1,960,537. ATI Inc. has a one year low of $39.23 and a one year high of $96.20. The company's fifty day simple moving average is $82.81 and its two-hundred day simple moving average is $69.48. 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 market capitalization of $10.69 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 1.06 and a beta of 1.27.

ATI (NYSE:ATI - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.74 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $0.60 EPS. The business'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, equities analysts expect that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

ATI Company Profile

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.