Connor Clark & Lunn Investment Management Ltd. Acquires New Holdings in ATI Inc. $ATI

Connor Clark & Lunn Investment Management Ltd. acquired a new position in ATI Inc. (NYSE:ATI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,561 shares of the basic materials company’s stock, valued at approximately $4,250,000.

A number of other hedge funds also recently bought and sold shares of ATI. BlackRock Inc. bought a new stake in ATI during the 2nd quarter valued at $3,687,529,000. Norges Bank bought a new position in shares of ATI in the 4th quarter worth $198,787,000. SG Americas Securities LLC lifted its stake in shares of ATI by 1,471.8% during the 1st quarter. SG Americas Securities LLC now owns 1,075,368 shares of the basic materials company’s stock worth $156,423,000 after purchasing an additional 1,006,951 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of ATI by 684.9% during the 4th quarter. AQR Capital Management LLC now owns 1,019,840 shares of the basic materials company’s stock worth $117,037,000 after purchasing an additional 889,912 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in ATI during the second quarter valued at about $168,996,000.

Analysts Set New Price Targets

A number of brokerages have commented on ATI. Wells Fargo & Company reiterated an “overweight” rating and issued a $275.00 target price on shares of ATI in a report on Monday, August 10th. TD Cowen raised their price target on shares of ATI from $170.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $262.00 price objective on shares of ATI in a research report on Monday, August 10th. BTIG Research boosted their price objective 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. Finally, Wall Street Zen raised shares of ATI from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $232.00.

ATI Trading Up 0.8%

Shares of NYSE:ATI opened at $214.63 on Friday. The business’s 50-day moving average is $201.46 and its 200 day moving average is $174.20. ATI Inc. has a 1 year low of $74.45 and a 1 year high of $243.57. The firm has a market capitalization of $29.23 billion, a P/E ratio of 62.94, a P/E/G ratio of 1.28 and a beta of 0.98. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.33 and a quick ratio of 1.14.

ATI (NYSE:ATI) last issued its quarterly earnings results on Thursday, August 6th. The basic materials company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.20. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. ATI had a return on equity of 29.27% and a net margin of 10.09%.The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $0.74 earnings per share. 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, research analysts predict that ATI Inc. will post 5.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kimberly A. Fields sold 59,749 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $179.07, for a total value of $10,699,253.43. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 177,044 shares of company stock valued at $33,976,616. 0.98% of the stock is currently owned by corporate insiders.

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.