Corient Private Wealth LP Buys Shares of 67,987 ATI Inc. $ATI

Key Points

• Corient Private Wealth initiated a position in ATI, buying 67,987 shares valued at approximately $13.4 million. Several other institutional investors also established or expanded positions during the second quarter.
• ATI exceeded quarterly expectations, reporting $1.23 in EPS on $1.26 billion in revenue, with revenue up 10.6% year over year. The company issued third-quarter EPS guidance of $1.31–$1.37 and full-year guidance of $4.90–$5.18.
• Analysts remain bullish, with ATI holding a consensus “Buy” rating and an average price target of $232, while recent targets range as high as $270. However, insiders—including CEO Kimberly A. Fields—have sold shares, with insiders selling 177,044 shares worth nearly $34 million in the last quarter.

Corient Private Wealth LP bought a new position in ATI Inc. (NYSE:ATI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 67,987 shares of the basic materials company's stock, valued at approximately $13,402,000.

Several other hedge funds have also recently modified their holdings of the business. Ausdal Financial Partners Inc. purchased a new position in shares of ATI in the second quarter worth $419,000. Bank of America Corp DE purchased a new stake in shares of ATI during the second quarter valued at $348,285,000. Freestone Grove Partners LP purchased a new stake in shares of ATI during the second quarter valued at $115,716,000. Caisse de depot et placement du Quebec bought a new stake in ATI in the 2nd quarter worth about $355,000. Finally, Man Group plc bought a new stake in ATI in the 2nd quarter worth about $11,738,000.

ATI Stock Down 2.0%

ATI stock opened at $210.29 on Friday. ATI Inc. has a one year low of $74.45 and a one year high of $243.57. The stock has a fifty day moving average of $201.64 and a 200 day moving average of $174.45. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.14 and a current ratio of 2.33. The stock has a market cap of $28.64 billion, a PE ratio of 61.67, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98.

ATI (NYSE:ATI - Get Free Report) last announced its earnings results on Thursday, August 6th. The basic materials company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.20. The business had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.22 billion. ATI had a return on equity of 29.27% and a net margin of 10.09%.The business's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. ATI has set its Q3 2026 guidance at 1.310-1.370 EPS and its FY 2026 guidance at 4.900-5.180 EPS. As a group, sell-side analysts predict that ATI Inc. will post 5.15 EPS for the current year.

Insider Buying and Selling at ATI

In related news, CEO Kimberly A. Fields sold 59,749 shares of the firm's stock in a transaction that occurred on 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 owned 218,014 shares of the company's stock, valued at approximately $39,039,766.98. This trade represents a 21.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 177,044 shares of company stock valued at $33,976,616. 0.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on ATI shares. TD Cowen upped their target price on shares of ATI from $170.00 to $210.00 and gave the company a "buy" rating in a research note on Monday, July 13th. KeyCorp lifted their price target on shares of ATI from $211.00 to $258.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Susquehanna boosted their price objective on shares of ATI from $215.00 to $265.00 and gave the company a "positive" rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $262.00 price objective on shares of ATI in a research report on Monday, August 10th. Finally, BTIG Research raised their target price on shares of ATI from $180.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. According to MarketBeat, ATI presently has an average rating of "Buy" and an average target price of $232.00.

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.

Want to see what other hedge funds are holding ATI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ATI Inc. (NYSE:ATI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source