Jones Road Capital Management L.P. Has $6.73 Million Stock Holdings in ATI Inc. $ATI

Key Points

• Jones Road Capital Management reduced its stake in ATI by 17.2% in Q3, selling 17,177 shares to end the quarter with 82,700 shares worth about $6.73 million, representing 4.0% of its portfolio and the firm's 6th-largest holding.
• Other large institutions moved decisively: Capital World Investors boosted its position to 7,900,572 shares (~$642.6M), Norges Bank initiated a ~ $146.7M position, and Capital International Investors holds 17,147,559 shares (~$1.39B).
• ATI recently topped quarterly EPS estimates, set FY 2026 guidance of 3.990–4.270 EPS, authorized a $500 million share buyback (up to 2.5% of shares), and trades with a market cap around $21.58 billion and a P/E of 55.5.

Jones Road Capital Management L.P. lowered its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 17.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,700 shares of the basic materials company's stock after selling 17,177 shares during the period. ATI comprises 4.0% of Jones Road Capital Management L.P.'s portfolio, making the stock its 6th largest holding. Jones Road Capital Management L.P. owned approximately 0.06% of ATI worth $6,727,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of ATI in the 2nd quarter valued at $146,726,000. Capital World Investors boosted its position in shares of 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 acquiring an additional 1,080,201 shares in the last quarter. BNP Paribas Financial Markets increased its stake in ATI by 552.7% in the second quarter. BNP Paribas Financial Markets now owns 720,224 shares of the basic materials company's stock valued at $62,184,000 after acquiring an additional 609,874 shares during the period. Holocene Advisors LP bought a new stake in ATI in the second quarter valued at about $52,217,000. Finally, Capital International Investors raised its position in ATI by 2.6% in the third quarter. Capital International Investors now owns 17,147,559 shares of the basic materials company's stock worth $1,394,349,000 after purchasing an additional 436,131 shares in the last quarter.

ATI Stock Performance

NYSE ATI opened at $157.61 on Thursday. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $168.14. The company has a 50 day moving average of $136.83 and a 200-day moving average of $107.68. The company has a current ratio of 2.66, a quick ratio of 1.27 and a debt-to-equity ratio of 0.90. The firm has a market cap of $21.58 billion, a price-to-earnings ratio of 55.50, a PEG ratio of 1.57 and a beta of 0.95.

ATI (NYSE:ATI - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The basic materials company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. ATI had a return on equity of 24.26% and a net margin of 8.81%.ATI's revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 EPS. ATI has set its FY 2026 guidance at 3.990-4.270 EPS and its Q1 2026 guidance at 0.830-0.890 EPS. On average, equities analysts forecast that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

ATI announced that its Board of Directors has approved a share repurchase program on Thursday, February 19th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Alembic Global Advisors started coverage on shares of ATI in a research note on Thursday, January 15th. They set an "overweight" rating and a $141.00 price target for the company. KeyCorp increased their target price on ATI from $120.00 to $132.00 and gave the stock an "overweight" rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. raised their target price on ATI from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 4th. Wall Street Zen lowered ATI from a "buy" rating to a "hold" rating in a research note on Sunday, February 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $150.00 price objective on shares of ATI in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $133.00.

Insider Buying and Selling at ATI

In other ATI news, Director David J. Morehouse sold 6,609 shares of the business's stock in a transaction on 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 transaction, the director owned 38,168 shares of the company's stock, valued at approximately $5,887,414. The trade was a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert S. Wetherbee sold 53,862 shares of the stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $109.48, for a total value of $5,896,811.76. Following the sale, the chairman owned 132,676 shares in the company, valued at $14,525,368.48. The trade was a 28.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company's stock.

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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