The Manufacturers Life Insurance Company Acquires Shares of 64,289 ATI Inc. $ATI

Key Points

• The Manufacturers Life Insurance Company acquired 64,289 ATI shares in the second quarter, valued at approximately $12.7 million. Other institutions, including Goldman Sachs and First Trust Advisors, also increased their holdings.
• Analysts remain bullish on ATI, with the stock carrying a consensus “Buy” rating and an average price target of $232. Several firms recently raised their targets, including BTIG Research to $270 and Wells Fargo to $275.
• ATI’s latest quarter exceeded expectations, with adjusted EPS of $1.23 and revenue of $1.26 billion, up 10.6% year over year. However, CEO Kimberly A. Fields sold 59,749 shares, while the stock recently traded at $210.29, down 2.0%.

The Manufacturers Life Insurance Company acquired a new stake in ATI Inc. (NYSE:ATI - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 64,289 shares of the basic materials company's stock, valued at approximately $12,671,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in ATI by 8.1% during the 1st quarter. Royal Bank of Canada now owns 60,369 shares of the basic materials company's stock valued at $3,140,000 after purchasing an additional 4,542 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in ATI by 49.4% during the first quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company's stock worth $32,984,000 after purchasing an additional 209,480 shares during the period. Cetera Investment Advisers acquired a new position in shares of ATI in the second quarter valued at $324,000. M&T Bank Corp acquired a new position in shares of ATI in the second quarter valued at $317,000. Finally, First Trust Advisors LP increased its holdings in shares of ATI by 4.9% in the second quarter. First Trust Advisors LP now owns 197,214 shares of the basic materials company's stock valued at $17,028,000 after purchasing an additional 9,234 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BTIG Research raised their target price on shares of ATI from $180.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. TD Cowen upped their price target on shares of ATI from $170.00 to $210.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Wells Fargo & Company reissued an "overweight" rating and issued a $275.00 price target on shares of ATI in a report on Monday, August 10th. Weiss Ratings upgraded shares of ATI from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 9th. Finally, Wall Street Zen upgraded ATI from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $232.00.

Insider Activity

In other ATI news, CEO Kimberly A. Fields sold 59,749 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $179.07, for a total transaction of $10,699,253.43. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 177,044 shares of company stock worth $33,976,616. Corporate insiders own 0.98% of the company's stock.

ATI Trading Down 2.0%

Shares of ATI stock opened at $210.29 on Friday. The firm has a 50-day moving average of $201.64 and a 200-day moving average of $174.45. The stock has a market cap of $28.64 billion, a PE ratio of 61.67, a PEG ratio of 1.29 and a beta of 0.98. ATI Inc. has a 52-week low of $74.45 and a 52-week high of $243.57. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.14 and a current ratio of 2.33.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The basic materials company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.20. ATI had a net margin of 10.09% and a return on equity of 29.27%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the firm earned $0.74 earnings per share. ATI's revenue for the quarter was up 10.6% compared to the same quarter last year. ATI has set its Q3 2026 guidance at 1.310-1.370 EPS and its FY 2026 guidance at 4.900-5.180 EPS. As a group, sell-side analysts forecast that ATI Inc. will post 5.15 EPS for the current year.

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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