M&T Bank Corp Raises Stock Holdings in ATI Inc. $ATI

Key Points

• M&T Bank boosted its stake in ATI by 355.4% in Q4 to 12,469 shares valued at about $1.43 million, joining other large funds that materially increased positions.
• ATI's board authorized a $500 million share buyback (up to 2.5% of outstanding stock) and set FY2026 guidance of 3.99–4.27 EPS, signaling management confidence and a pro-shareholder capital allocation move.
• Director David J. Morehouse sold 6,609 shares for roughly $1.02 million (a 14.8% reduction in his holding), while the stock recently traded down about 4.1% amid a consensus "Buy" rating and an average price target near $153.

M&T Bank Corp boosted its holdings in ATI Inc. (NYSE:ATI - Free Report) by 355.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,469 shares of the basic materials company's stock after buying an additional 9,731 shares during the quarter. M&T Bank Corp's holdings in ATI were worth $1,431,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ATI. Capital World Investors raised its position in ATI by 15.8% in the 3rd 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 during the last quarter. Holocene Advisors LP increased its position in shares of ATI by 153.7% during the 3rd quarter. Holocene Advisors LP now owns 1,534,114 shares of the basic materials company's stock valued at $124,785,000 after purchasing an additional 929,333 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of ATI by 552.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 720,224 shares of the basic materials company's stock valued at $62,184,000 after purchasing an additional 609,874 shares during the last quarter. Capital International Investors increased its position in shares of ATI by 2.6% during 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 purchasing an additional 436,131 shares during the last quarter. Finally, State Street Corp increased its position in shares of ATI by 7.4% during the 3rd quarter. State Street Corp now owns 6,042,244 shares of the basic materials company's stock valued at $491,476,000 after purchasing an additional 415,479 shares during the last quarter.

Insider Activity

In related news, Director David J. Morehouse sold 6,609 shares of the business'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 in the company, valued at approximately $5,887,414. The trade was a 14.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.98% of the company's stock.

ATI Trading Down 4.1%

Shares of NYSE:ATI opened at $145.49 on Thursday. The stock has a 50 day moving average of $153.45 and a 200 day moving average of $125.36. The company has a market cap of $19.85 billion, a PE ratio of 51.23, a price-to-earnings-growth ratio of 1.52 and a beta of 1.00. The company has a current ratio of 2.66, a quick ratio of 1.27 and a debt-to-equity ratio of 0.90. ATI Inc. has a 12-month low of $51.80 and a 12-month high of $168.14.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The basic materials company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.04. The company had revenue of $1.18 billion during 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%.The firm's revenue was up .4% on a year-over-year basis. During the same period in the previous year, the company posted $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. As a group, equities research analysts expect that ATI Inc. will post 4.18 EPS for the current year.

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

Wall Street Analysts Forecast Growth

ATI has been the subject of several research reports. Wells Fargo & Company initiated coverage on shares of ATI in a research report on Wednesday, April 1st. They set an "overweight" rating and a $175.00 price target for the company. Zacks Research lowered shares of ATI from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Susquehanna upped their price target on shares of ATI from $155.00 to $185.00 and gave the company a "positive" rating in a research report on Friday, April 10th. 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 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of ATI from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, ATI currently has an average rating of "Buy" and an average price target of $152.88.

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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