Candelo Capital Management LP Has $4.95 Million Stock Position in ATI Inc. $ATI

Candelo Capital Management LP lowered its stake in ATI Inc. (NYSE:ATI) by 24.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 60,896 shares of the basic materials company’s stock after selling 19,377 shares during the period. ATI accounts for approximately 4.3% of Candelo Capital Management LP’s holdings, making the stock its 9th largest holding. Candelo Capital Management LP’s holdings in ATI were worth $4,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Cinctive Capital Management LP purchased a new stake in ATI during the third quarter valued at approximately $3,118,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of ATI by 55.5% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,349 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 1,552 shares during the period. California Public Employees Retirement System increased its position in shares of ATI by 40.7% during the 3rd quarter. California Public Employees Retirement System now owns 257,675 shares of the basic materials company’s stock valued at $20,959,000 after purchasing an additional 74,571 shares during the last quarter. Bank of America Corp DE raised its holdings in ATI by 17.8% during the 3rd quarter. Bank of America Corp DE now owns 733,608 shares of the basic materials company’s stock valued at $59,672,000 after buying an additional 111,112 shares during the period. Finally, Bank of Nova Scotia lifted its position in ATI by 11.3% in the third quarter. Bank of Nova Scotia now owns 265,053 shares of the basic materials company’s stock worth $21,559,000 after buying an additional 26,816 shares during the last quarter.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 53,862 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $109.48, for a total transaction of $5,896,811.76. Following the transaction, the chairman directly owned 132,676 shares of the company’s stock, valued at approximately $14,525,368.48. This trade represents a 28.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David J. Morehouse sold 6,609 shares of ATI stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $154.25, for a total transaction of $1,019,438.25. Following the sale, the director directly owned 38,168 shares of the company’s stock, valued at $5,887,414. This represents a 14.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

ATI Stock Performance

ATI stock opened at $141.94 on Friday. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $168.14. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of 49.98, a PEG ratio of 1.41 and a beta of 0.95. The business’s fifty day simple moving average is $137.91 and its two-hundred day simple moving average is $108.65. The company has a quick ratio of 1.27, a current ratio of 2.66 and a debt-to-equity ratio of 0.90.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, February 3rd. The basic materials company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. ATI had a net margin of 8.81% and a return on equity of 24.26%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the business posted $0.79 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. ATI has set its FY 2026 guidance at 3.990-4.270 EPS and its Q1 2026 guidance at 0.830-0.890 EPS. Analysts predict that ATI Inc. will post 2.89 earnings per share for the current year.

ATI announced that its Board of Directors has authorized a stock buyback program on Thursday, February 19th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the basic materials company to purchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of ATI in a research report on Monday, December 29th. Wall Street Zen lowered shares of ATI from a “buy” rating to a “hold” rating in a report on Sunday, February 15th. Susquehanna set a $155.00 price target on shares of ATI in a research note on Wednesday, February 4th. 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 report on Wednesday, February 4th. Finally, BTIG Research increased their price objective on shares of ATI from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $133.00.

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.