Legal & General Group Plc Lowers Holdings in ATI Inc. $ATI

Key Points

• Legal & General Group Plc cut its ATI stake by 6.3% in the fourth quarter, selling 15,138 shares and leaving it with 224,789 shares valued at about $25.8 million.
• ATI reported better-than-expected earnings for the latest quarter, with EPS of $1.00 versus the $0.88 consensus, though revenue of $1.15 billion came in slightly below expectations.
• Analysts remain broadly positive on ATI, with a consensus Buy rating and an average price target of $164.38, while the company also authorized a $500 million share repurchase program.

Legal & General Group Plc lowered its position in ATI Inc. (NYSE:ATI - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 224,789 shares of the basic materials company's stock after selling 15,138 shares during the quarter. Legal & General Group Plc owned approximately 0.17% of ATI worth $25,797,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Channing Capital Management LLC increased its holdings in shares of ATI by 34.2% in the 3rd quarter. Channing Capital Management LLC now owns 1,109,160 shares of the basic materials company's stock valued at $90,219,000 after acquiring an additional 282,529 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in ATI by 53.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 25,648 shares of the basic materials company's stock valued at $3,103,000 after purchasing an additional 8,939 shares during the last quarter. Nordea Investment Management AB purchased a new position in ATI in the fourth quarter valued at about $6,114,000. First Financial Bankshares Inc bought a new position in ATI in the third quarter worth about $1,589,000. Finally, Intech Investment Management LLC lifted its position in shares of ATI by 96.6% during the third quarter. Intech Investment Management LLC now owns 52,090 shares of the basic materials company's stock valued at $4,237,000 after buying an additional 25,590 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Zacks Research cut shares of ATI from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. BTIG Research increased their price objective on ATI from $165.00 to $180.00 and gave the company a "buy" rating in a report on Friday, May 1st. Weiss Ratings restated a "buy (b-)" rating on shares of ATI in a research note on Friday, May 22nd. JPMorgan Chase & Co. increased their price target on ATI from $150.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, Wall Street Zen lowered ATI from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, ATI has a consensus rating of "Buy" and a consensus target price of $164.38.

ATI Price Performance

Shares of ATI opened at $175.47 on Monday. The business's 50-day moving average is $155.63 and its two-hundred day moving average is $135.45. The company has a market capitalization of $23.95 billion, a P/E ratio of 58.10, a P/E/G ratio of 1.51 and a beta of 0.96. ATI Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $177.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.17 and a current ratio of 2.67.

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

ATI announced that its board has approved a share repurchase program on Thursday, February 19th that authorizes the company to buyback $500.00 million in 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 usually a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at ATI

In other news, Director David J. Morehouse sold 6,609 shares of the company's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $154.25, for a total transaction of $1,019,438.25. Following the completion of the transaction, the director directly owned 38,168 shares of the company's stock, valued at $5,887,414. This represents a 14.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kimberly A. Fields sold 40,000 shares of ATI stock in a transaction on Monday, May 11th. The shares were 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 directly owned 277,763 shares in the company, valued at $44,222,647.23. This represents a 12.59% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.98% 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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