Van ECK Associates Corp Acquires Shares of 27,953 ATI Inc. $ATI

Key Points

• Van ECK Associates acquired 27,953 ATI shares in the second quarter, valued at approximately $5.51 million, while several other institutional investors also increased or initiated positions.
• Analyst sentiment is strongly positive: ATI has an overall “Buy” rating, with one Strong Buy and nine Buy ratings, and an average price target of $232.
• ATI beat quarterly expectations with $1.23 in EPS and $1.26 billion in revenue, up 10.6% year over year; however, insiders have sold 133,795 shares worth about $26.7 million over the past 90 days.

Van ECK Associates Corp purchased a new position in ATI Inc. (NYSE:ATI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 27,953 shares of the basic materials company's stock, valued at approximately $5,510,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of ATI by 8.1% in 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 buying an additional 4,542 shares during the period. Goldman Sachs Group Inc. increased its position in ATI by 49.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company's stock valued at $32,984,000 after acquiring an additional 209,480 shares during the period. Cetera Investment Advisers acquired a new position in shares of ATI during the second quarter valued at $324,000. M&T Bank Corp acquired a new position in ATI during the 2nd quarter valued at about $317,000. Finally, First Trust Advisors LP raised its holdings in ATI by 4.9% during the second quarter. First Trust Advisors LP now owns 197,214 shares of the basic materials company's stock worth $17,028,000 after purchasing an additional 9,234 shares in the last quarter.

Wall Street Analyst Weigh In

ATI has been the topic of several research reports. Wall Street Zen upgraded shares of ATI from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Susquehanna increased their target price on ATI from $215.00 to $265.00 and gave the company a "positive" rating in a report on Friday, August 7th. BTIG Research raised their price target on shares of ATI from $180.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 7th. TD Cowen boosted their target price on ATI from $170.00 to $210.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Finally, KeyCorp boosted their target price on shares of ATI from $211.00 to $258.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $232.00.

ATI Stock Up 0.2%

Shares of ATI stock opened at $201.26 on Thursday. The firm has a market cap of $27.41 billion, a PE ratio of 59.02, a price-to-earnings-growth ratio of 1.22 and a beta of 1.01. ATI Inc. has a 12 month low of $74.45 and a 12 month high of $243.57. The stock has a 50 day moving average of $201.75 and a 200-day moving average of $176.07. The company has a quick ratio of 1.14, a current ratio of 2.33 and a debt-to-equity ratio of 0.91.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The basic materials company reported $1.23 earnings per share for the quarter, beating 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 firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned $0.74 EPS. The business's revenue was up 10.6% on a year-over-year basis. ATI has set its Q3 2026 guidance at 1.310-1.370 EPS and its FY 2026 guidance at 4.900-5.180 EPS. On average, equities analysts predict that ATI Inc. will post 5.12 EPS for the current year.

Insider Buying and Selling at ATI

In other ATI news, VP Timothy J. Harris sold 16,500 shares of ATI stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $210.01, for a total transaction of $3,465,165.00. Following the sale, the vice president directly owned 130,187 shares of the company's stock, valued at approximately $27,340,571.87. The trade was a 11.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kimberly A. Fields sold 40,000 shares of the business's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $182.91, for a total value of $7,316,400.00. Following the completion of the sale, the chief executive officer directly owned 157,321 shares in the company, valued at approximately $28,775,584.11. This represents a 20.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 133,795 shares of company stock valued at $26,742,527. 0.98% of the stock is owned by company insiders.

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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