ATI Inc. $ATI Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia grew its position in ATI Inc. (NYSE:ATI) by 11.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 265,053 shares of the basic materials company’s stock after acquiring an additional 26,816 shares during the period. Bank of Nova Scotia owned about 0.20% of ATI worth $21,559,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. raised its holdings in ATI by 2,010.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 422 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 402 shares during the period. Prestige Wealth Management Group LLC purchased a new position in ATI during the third quarter worth approximately $34,000. ARK Investment Management LLC grew its holdings in ATI by 378.7% in the third quarter. ARK Investment Management LLC now owns 742 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 587 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in ATI by 56.5% in the second quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 260 shares during the period. Finally, Optiver Holding B.V. increased its position in shares of ATI by 274.0% in the third quarter. Optiver Holding B.V. now owns 864 shares of the basic materials company’s stock valued at $70,000 after buying an additional 633 shares in the last quarter.

Insiders Place Their Bets

In other news, Director David J. Morehouse sold 6,609 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $154.25, for a total value of $1,019,438.25. Following the completion of the sale, the director directly owned 38,168 shares in the company, valued at $5,887,414. This represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert S. Wetherbee sold 53,862 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $109.48, for a total transaction of $5,896,811.76. Following the completion of the transaction, the chairman directly owned 132,676 shares in the company, valued at approximately $14,525,368.48. This represents a 28.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ATI. KeyCorp upped their target price on ATI from $120.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. boosted their price target on shares of ATI from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Zacks Research raised shares of ATI from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Alembic Global Advisors assumed coverage on shares of ATI in a report on Thursday, January 15th. They set an “overweight” rating and a $141.00 price objective on the stock. Finally, Susquehanna set a $155.00 target price on shares of ATI in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat.com, ATI currently has an average rating of “Buy” and a consensus price target of $133.00.

ATI Stock Performance

Shares of NYSE:ATI opened at $147.63 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.66 and a quick ratio of 1.27. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $168.14. The firm has a market capitalization of $20.22 billion, a PE ratio of 51.98, a P/E/G ratio of 1.41 and a beta of 0.95. The business’s 50 day moving average price is $138.47 and its 200-day moving average price is $109.36.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, February 3rd. The basic materials company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04. The firm 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% compared to the same quarter last year. During the same period in the prior year, the company earned $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 2.89 earnings per share for the current fiscal year.

ATI announced that its board has approved a stock buyback plan on Thursday, February 19th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.