Mengis Capital Management Inc. Decreases Stock Position in ATI Inc. $ATI

Key Points

• Mengis Capital Management cut its ATI stake by 10.4% in the fourth quarter, selling 8,540 shares and leaving it with 73,267 shares worth about $8.4 million. ATI now makes up 1.5% of the firm’s portfolio.
• ATI reported Q1 earnings of $1.00 per share, topping estimates of $0.88, though revenue of $1.15 billion came in slightly below expectations. The company also raised guidance, projecting Q2 2026 EPS of $0.98-$1.04 and full-year 2026 EPS of $4.20-$4.48.
• Analysts remain generally upbeat on ATI, with firms like KeyCorp, JPMorgan, and Deutsche Bank maintaining or raising buy/overweight ratings. The stock’s consensus rating is Buy with an average price target of $164.38, even as shares recently traded above $201.

Mengis Capital Management Inc. trimmed its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 10.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,267 shares of the basic materials company's stock after selling 8,540 shares during the quarter. ATI accounts for 1.5% of Mengis Capital Management Inc.'s holdings, making the stock its 18th largest holding. Mengis Capital Management Inc. owned about 0.05% of ATI worth $8,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ATI. Capital International Investors boosted its stake in shares of ATI by 2.6% in the 3rd quarter. Capital International Investors now owns 17,147,559 shares of the basic materials company's stock valued at $1,394,349,000 after buying an additional 436,131 shares during the period. Capital World Investors grew its position in shares of ATI by 15.8% during the third quarter. Capital World Investors now owns 7,900,572 shares of the basic materials company's stock worth $642,633,000 after buying an additional 1,080,201 shares in the last quarter. State Street Corp increased its stake in shares of ATI by 7.4% during the third quarter. State Street Corp now owns 6,042,244 shares of the basic materials company's stock worth $491,476,000 after buying an additional 415,479 shares during the period. Capital Research Global Investors increased its stake in shares of ATI by 12.0% during the fourth quarter. Capital Research Global Investors now owns 3,611,724 shares of the basic materials company's stock worth $414,481,000 after buying an additional 386,754 shares during the period. Finally, Invesco Ltd. increased its stake in shares of ATI by 7.4% during the fourth quarter. Invesco Ltd. now owns 3,384,924 shares of the basic materials company's stock worth $388,454,000 after buying an additional 233,010 shares during the period.

Insiders Place Their Bets

In other ATI news, CEO Kimberly A. Fields sold 59,749 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $179.07, for a total value of $10,699,253.43. Following the completion of the transaction, the chief executive officer owned 218,014 shares in the company, valued at $39,039,766.98. This represents a 21.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.98% of the stock is currently owned by company insiders.

ATI Stock Performance

Shares of ATI stock opened at $201.31 on Friday. The company has a quick ratio of 1.17, a current ratio of 2.67 and a debt-to-equity ratio of 0.95. ATI Inc. has a 52 week low of $70.42 and a 52 week high of $203.60. The firm's 50 day moving average is $168.39 and its two-hundred day moving average is $144.68. The firm has a market capitalization of $27.47 billion, a P/E ratio of 66.66, a P/E/G ratio of 1.73 and a beta of 0.96.

ATI (NYSE:ATI - Get Free Report) last issued its earnings results on Thursday, April 30th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.12. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.19 billion. ATI had a net margin of 9.26% and a return on equity of 26.44%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 EPS. 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 forecast that ATI Inc. will post 4.43 EPS for the current fiscal year.

Analysts Set New Price Targets

ATI has been the subject of a number of recent research reports. KeyCorp lifted their price target on shares of ATI from $167.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on shares of ATI from $150.00 to $175.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Wall Street Zen lowered shares of ATI from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings restated a "buy (b-)" rating on shares of ATI in a report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $194.00 price objective on shares of ATI in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, ATI has an average rating of "Buy" and a consensus 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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