Geode Capital Management LLC Sells 25,505 Shares of ATI Inc. $ATI

Key Points

• Geode Capital Management trimmed its ATI stake by 1.0% in the fourth quarter, selling 25,505 shares while still holding 2.42 million shares valued at about $277.7 million.
• ATI posted stronger-than-expected quarterly earnings, reporting $1.00 EPS versus the $0.88 consensus, though revenue of $1.15 billion came in slightly below estimates.
• The company is supporting shareholders with a $500 million stock buyback, while analysts remain mostly bullish with a consensus Buy rating and an average price target of $164.38.

Geode Capital Management LLC reduced its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,419,168 shares of the basic materials company's stock after selling 25,505 shares during the quarter. Geode Capital Management LLC owned 1.78% of ATI worth $277,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lido Advisors LLC increased its position in ATI by 2.7% during the third quarter. Lido Advisors LLC now owns 3,784 shares of the basic materials company's stock valued at $308,000 after acquiring an additional 101 shares during the last quarter. Smartleaf Asset Management LLC increased its position in ATI by 12.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,090 shares of the basic materials company's stock valued at $86,000 after acquiring an additional 118 shares during the last quarter. Activest Wealth Management increased its position in ATI by 17.6% during the fourth quarter. Activest Wealth Management now owns 834 shares of the basic materials company's stock valued at $96,000 after acquiring an additional 125 shares during the last quarter. D.A. Davidson & CO. increased its position in ATI by 2.0% during the fourth quarter. D.A. Davidson & CO. now owns 7,202 shares of the basic materials company's stock valued at $827,000 after acquiring an additional 140 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in ATI by 6.1% during the third quarter. Johnson Investment Counsel Inc. now owns 2,624 shares of the basic materials company's stock valued at $213,000 after acquiring an additional 150 shares during the last quarter.

ATI Stock Performance

Shares of ATI opened at $178.85 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 2.67 and a debt-to-equity ratio of 0.95. The business has a 50-day simple moving average of $156.25 and a two-hundred day simple moving average of $136.02. The stock has a market cap of $24.41 billion, a price-to-earnings ratio of 59.22, a PEG ratio of 1.51 and a beta of 0.96. ATI Inc. has a 52 week low of $70.42 and a 52 week high of $181.02.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.12. ATI had a return on equity of 26.44% and a net margin of 9.26%.The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the business posted $0.72 earnings per share. The business's quarterly revenue was up .6% on a year-over-year basis. ATI has set its Q2 2026 guidance at 0.980-1.040 EPS and its FY 2026 guidance at 4.200-4.480 EPS. On average, analysts expect that ATI Inc. will post 4.43 EPS for the current year.

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

Insider Activity

In related news, CEO Kimberly A. Fields sold 40,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $159.21, for a total transaction of $6,368,400.00. Following the completion of the sale, the chief executive officer owned 277,763 shares in the company, valued at approximately $44,222,647.23. This trade represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David J. Morehouse sold 6,609 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $154.25, for a total value of $1,019,438.25. Following the sale, the director owned 38,168 shares of the company's stock, valued at $5,887,414. This represents a 14.76% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $194.00 price objective on shares of ATI in a research report on Friday, May 1st. Susquehanna upped their price objective on ATI from $155.00 to $185.00 and gave the company a "positive" rating in a research report on Friday, April 10th. Wall Street Zen cut ATI from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a "buy (b-)" rating on shares of ATI in a research report on Friday, May 22nd. Finally, Wells Fargo & Company assumed coverage on ATI in a research report on Wednesday, April 1st. They set an "overweight" rating and a $175.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $164.38.

ATI Company Profile

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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