Bank of Nova Scotia Acquires New Shares in ATI Inc. $ATI

Bank of Nova Scotia bought a new stake in shares of ATI Inc. (NYSE:ATI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 238,237 shares of the basic materials company’s stock, valued at approximately $20,569,000. Bank of Nova Scotia owned about 0.17% of ATI at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp boosted its position in shares of ATI by 11.4% during the second quarter. Fifth Third Bancorp now owns 1,252 shares of the basic materials company’s stock valued at $108,000 after buying an additional 128 shares during the last quarter. Farther Finance Advisors LLC raised its position in ATI by 10.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,459 shares of the basic materials company’s stock worth $126,000 after buying an additional 143 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in ATI by 3.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,322 shares of the basic materials company’s stock valued at $373,000 after acquiring an additional 144 shares during the period. SG Americas Securities LLC boosted its holdings in shares of ATI by 0.7% during the 2nd quarter. SG Americas Securities LLC now owns 23,636 shares of the basic materials company’s stock valued at $2,041,000 after acquiring an additional 160 shares during the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of ATI by 3.0% during the 2nd quarter. AlphaQuest LLC now owns 5,772 shares of the basic materials company’s stock valued at $498,000 after acquiring an additional 170 shares during the last quarter.

ATI Trading Down 0.1%

Shares of ATI stock opened at $99.54 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.50 and a quick ratio of 1.18. The company has a market cap of $13.52 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 1.30 and a beta of 1.08. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $103.64. The firm has a fifty day moving average price of $93.05 and a 200-day moving average price of $85.62.

ATI (NYSE:ATI) last released its earnings results on Tuesday, October 28th. The basic materials company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.10. ATI had a return on equity of 23.34% and a net margin of 9.71%.The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.60 earnings per share. ATI’s quarterly revenue was up 7.1% compared to the same quarter last year. ATI has set its FY 2025 guidance at 3.150-3.21 EPS and its Q4 2025 guidance at 0.840-0.90 EPS. As a group, equities analysts predict that ATI Inc. will post 2.89 earnings per share for the current year.

Insider Buying and Selling

In other ATI news, CEO Kimberly A. Fields sold 21,154 shares of ATI stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $82.03, for a total transaction of $1,735,262.62. Following the transaction, the chief executive officer owned 223,821 shares of the company’s stock, valued at $18,360,036.63. The trade was a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Timothy J. Harris sold 10,543 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $97.69, for a total transaction of $1,029,945.67. Following the completion of the sale, the vice president directly owned 119,394 shares of the company’s stock, valued at approximately $11,663,599.86. This trade represents a 8.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 167,387 shares of company stock valued at $15,431,377. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ATI shares. Deutsche Bank Aktiengesellschaft set a $98.00 price objective on shares of ATI in a report on Wednesday, October 8th. BTIG Research reiterated a “buy” rating and set a $120.00 target price on shares of ATI in a research note on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of ATI in a research note on Wednesday, October 8th. Zacks Research raised ATI to a “hold” rating in a report on Tuesday, August 12th. Finally, Susquehanna increased their target price on ATI from $100.00 to $120.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $103.00.

ATI Company Profile

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.