Magnetar Financial LLC Purchases Shares of 45,664 ATI Inc. $ATI

Key Points

• Magnetar Financial established a new position of 45,664 ATI shares in Q3, valued at about $3.71 million, indicating fresh institutional interest.
• ATI's board authorized a $500 million share buyback (roughly 2.5% of shares) after an EPS beat and management set FY2026 guidance of $3.99–4.27, while analysts hold an average "Buy" rating with a $133 target.
• Insider selling was significant: Director David Morehouse sold 6,609 shares and Chairman Robert Wetherbee sold 53,862 shares, leaving insiders with about 1.10% ownership.

Magnetar Financial LLC purchased a new position in shares of ATI Inc. (NYSE:ATI - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm purchased 45,664 shares of the basic materials company's stock, valued at approximately $3,714,000.

Several other hedge funds have also recently made changes to their positions in ATI. Sequoia Financial Advisors LLC lifted its stake in shares of ATI by 2.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,424 shares of the basic materials company's stock valued at $360,000 after purchasing an additional 102 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of ATI by 12.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,090 shares of the basic materials company's stock valued at $86,000 after purchasing an additional 118 shares in the last quarter. Johnson Investment Counsel Inc. increased its holdings in ATI by 6.1% in the third quarter. Johnson Investment Counsel Inc. now owns 2,624 shares of the basic materials company's stock worth $213,000 after purchasing an additional 150 shares in the last quarter. SG Americas Securities LLC increased its holdings in ATI by 0.7% in the second quarter. SG Americas Securities LLC now owns 23,636 shares of the basic materials company's stock worth $2,041,000 after purchasing an additional 160 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in ATI by 2.9% in the second quarter. ProShare Advisors LLC now owns 6,254 shares of the basic materials company's stock valued at $540,000 after buying an additional 176 shares during the period.

Insiders Place Their Bets

In other ATI news, Director David J. Morehouse sold 6,609 shares of the firm's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $154.25, for a total value of $1,019,438.25. Following the transaction, the director directly owned 38,168 shares of the company's stock, valued at approximately $5,887,414. This trade represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Robert S. Wetherbee sold 53,862 shares of ATI stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $109.48, for a total transaction of $5,896,811.76. Following the transaction, the chairman owned 132,676 shares of the company's stock, valued at $14,525,368.48. This represents a 28.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ATI. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $150.00 price target on shares of ATI in a research note on Wednesday, February 4th. Zacks Research upgraded shares of ATI from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 9th. Alembic Global Advisors initiated coverage on shares of ATI in a research report on Thursday, January 15th. They set an "overweight" rating and a $141.00 target price on the stock. Susquehanna set a $155.00 target price on shares of ATI in a research note on Wednesday, February 4th. Finally, KeyCorp raised their price target on shares of ATI from $120.00 to $132.00 and gave the stock an "overweight" rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $133.00.

ATI Stock Down 0.9%

Shares of NYSE:ATI opened at $157.61 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.27 and a current ratio of 2.66. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $168.14. The business's 50 day simple moving average is $136.83 and its two-hundred day simple moving average is $107.68. The firm has a market cap of $21.58 billion, a P/E ratio of 55.50, a PEG ratio of 1.57 and a beta of 0.95.

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

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

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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