Engineers Gate Manager LP Grows Position in ATI Inc. $ATI

Key Points

• Engineers Gate Manager LP increased its ATI stake by 26.3% in the second quarter, bringing its holdings to 87,049 shares valued at approximately $17.2 million. Several other major institutional investors also expanded or initiated positions.
• Analyst sentiment is broadly bullish: ATI has a consensus “Buy” rating and an average price target of $232, with multiple firms recently raising their targets.
• ATI reported quarterly EPS of $1.23, beating estimates of $1.03, while revenue rose 10.6% year over year to $1.26 billion. However, company insiders sold a combined 136,280 shares worth about $27.2 million over the past three months.

Engineers Gate Manager LP raised its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 26.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,049 shares of the basic materials company's stock after purchasing an additional 18,104 shares during the quarter. Engineers Gate Manager LP owned about 0.06% of ATI worth $17,157,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ATI. California State Teachers Retirement System lifted its stake in shares of ATI by 19,689.8% during the second quarter. California State Teachers Retirement System now owns 31,220,640 shares of the basic materials company's stock worth $6,153,588,000 after buying an additional 31,062,879 shares during the period. BlackRock Inc. acquired a new position in shares of ATI in the 2nd quarter valued at $3,687,529,000. State Street Corp increased its position in shares of ATI by 7.4% in the 3rd quarter. State Street Corp now owns 6,042,244 shares of the basic materials company's stock valued at $491,476,000 after acquiring an additional 415,479 shares during the period. Capital Research Global Investors raised its stake in ATI by 12.0% in the 4th quarter. Capital Research Global Investors now owns 3,611,724 shares of the basic materials company's stock worth $414,481,000 after acquiring an additional 386,754 shares during the last quarter. Finally, Invesco Ltd. lifted its position in ATI by 7.4% during the 4th quarter. Invesco Ltd. now owns 3,384,924 shares of the basic materials company's stock worth $388,454,000 after acquiring an additional 233,010 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings upgraded ATI from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 9th. BTIG Research upped their target price on ATI from $180.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 7th. KeyCorp increased their price target on shares of ATI from $211.00 to $258.00 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. Zacks Research raised shares of ATI from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of ATI from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $232.00.

Insider Activity at ATI

In related news, VP Timothy Harris sold 16,500 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $210.01, for a total transaction of $3,465,165.00. Following the sale, the vice president directly owned 130,187 shares of the company's stock, valued at approximately $27,340,571.87. This represents a 11.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David Morehouse sold 2,485 shares of the firm's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $201.61, for a total transaction of $501,000.85. Following the sale, the director owned 35,826 shares in the company, valued at approximately $7,222,879.86. This represents a 6.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 136,280 shares of company stock worth $27,243,528 in the last three months. Company insiders own 0.98% of the company's stock.

ATI Stock Down 0.2%

Shares of ATI opened at $206.91 on Thursday. The company has a market capitalization of $28.17 billion, a price-to-earnings ratio of 60.68, a PEG ratio of 1.26 and a beta of 1.01. ATI Inc. has a 52 week low of $75.02 and a 52 week high of $243.57. The stock's 50-day moving average price is $202.90 and its 200-day moving average price is $178.21. The company has a quick ratio of 1.14, a current ratio of 2.33 and a debt-to-equity ratio of 0.91.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The basic materials company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.20. ATI had a return on equity of 29.27% and a net margin of 10.09%.The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the company posted $0.74 earnings per share. ATI's revenue for the quarter was up 10.6% on a year-over-year basis. ATI has set its Q3 2026 guidance at 1.310-1.370 EPS and its FY 2026 guidance at 4.900-5.180 EPS. On average, sell-side analysts predict that ATI Inc. will post 5.11 EPS for the current year.

ATI Company Profile

ATI Inc NYSE: ATI is a specialty materials and components manufacturer serving aerospace and defense, medical, energy, transportation, and other demanding industrial markets. The company develops and produces advanced alloys and engineered materials designed to perform in high-temperature, corrosive, and high-stress environments.

ATI's products include nickel-based superalloys, titanium and titanium-based materials, specialty stainless steels, zirconium and other specialty alloys. Its manufacturing capabilities also include precision forgings, castings, rolled products, and machined components used in aircraft engines, airframes, power-generation equipment, medical devices, and industrial applications.

The company was formed in 1996 through the combination of Allegheny Ludlum Corporation and Teledyne, Inc's specialty metals operations and adopted the name ATI Inc in 2021.

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