Northern Trust Corp Raises Stock Holdings in ATI Inc. $ATI

Key Points

• Northern Trust Corp increased its stake in ATI Inc. by 33.4%, holding approximately 1.26 million shares valued at about $65.70 million by the end of the 1st quarter.
• Several institutional investors have also adjusted their stakes in ATI, with Woodline Partners LP boosting its position by 132% in the 4th quarter, now owning 991,741 shares worth approximately $54.59 million.
• ATI received a mix of analyst ratings, with a consensus rating of "Moderate Buy" and an average price target of $93.29, reflecting optimism about the company's future performance.

Northern Trust Corp increased its stake in ATI Inc. (NYSE:ATI - Free Report) by 33.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,262,761 shares of the basic materials company's stock after buying an additional 316,090 shares during the quarter. Northern Trust Corp owned 0.90% of ATI worth $65,701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in shares of ATI by 104.1% in the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock worth $31,000 after buying an additional 304 shares during the last quarter. Bessemer Group Inc. raised its stake in ATI by 139.9% in the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 386 shares during the period. Olde Wealth Management LLC bought a new stake in ATI in the 1st quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in ATI in the 1st quarter valued at about $47,000. Finally, Fifth Third Bancorp raised its stake in ATI by 115.7% in the 1st quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock valued at $58,000 after acquiring an additional 603 shares during the period.

Insider Activity

In other news, Director David J. Morehouse sold 7,900 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $75.81, for a total transaction of $598,899.00. Following the completion of the transaction, the director owned 44,777 shares of the company's stock, valued at approximately $3,394,544.37. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Robert S. Wetherbee sold 50,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $83.93, for a total value of $4,196,500.00. Following the transaction, the chairman directly owned 356,538 shares of the company's stock, valued at $29,924,234.34. The trade was a 12.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,900 shares of company stock valued at $12,610,399 in the last three months. 1.10% of the stock is owned by insiders.

ATI Price Performance

Shares of ATI traded up $1.68 during midday trading on Thursday, hitting $78.44. 1,369,803 shares of the company traded hands, compared to its average volume of 2,389,135. The stock has a 50-day moving average of $82.91 and a 200-day moving average of $69.25. ATI Inc. has a one year low of $39.23 and a one year high of $96.20. The firm has a market cap of $10.81 billion, a P/E ratio of 27.24, a PEG ratio of 1.05 and a beta of 1.20. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.52 and a quick ratio of 1.20.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. ATI had a return on equity of 21.34% and a net margin of 9.26%.The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The company's revenue was up 4.1% on a year-over-year basis. ATI has set its FY 2025 guidance at 2.900-3.07 EPS. Q3 2025 guidance at 0.690-0.75 EPS. As a group, sell-side analysts predict that ATI Inc. will post 2.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ATI shares. JPMorgan Chase & Co. boosted their price objective on ATI from $75.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on ATI and gave the company a "hold" rating in a research note on Tuesday, July 8th. BTIG Research set a $120.00 price objective on ATI and gave the company a "buy" rating in a research note on Monday, August 4th. Citigroup upgraded ATI to a "positive" rating in a research note on Tuesday, May 20th. Finally, Susquehanna lowered their price objective on ATI from $105.00 to $100.00 and set a "positive" rating on the stock in a research note on Friday, August 1st. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $93.29.

ATI Company Profile

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.