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ATI Allegheny

ATI is a $3 billion global manufacturer solving the world's most difficult challenges through materials science; advanced, integrated process technologies; and relentlessly innovative people. They serve customers whose demanding applications need to fly higher, dig deeper, stand stronger, and last longer— anywhere on, above, or below the earth. They partner to create new specialty materials in forms that deliver ultimate performance and long-term value in applications like jet engine forgings and 3D-printed aerospace components. They produce powders for forging and additive manufacturing; rolled materials, and finished components. Their specialty materials withstand extremes of temperature, stress and corrosion to improve and protect human lives every day.

Company profile

Ticker
ATI
Exchange
CEO
Robert Wetherbee
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
ALLEGHENY TELEDYNE INC
SEC CIK
IRS number
251792394

ATI stock data

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Calendar

29 Apr 21
29 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Allegheny earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 541.7M 541.7M 541.7M 541.7M 541.7M 541.7M
Cash burn (monthly) 34.73M 8.11M (positive/no burn) 123.71M 22.7M (positive/no burn)
Cash used (since last report) 137.51M 32.1M n/a 489.76M 89.87M n/a
Cash remaining 404.19M 509.6M n/a 51.94M 451.83M n/a
Runway (months of cash) 11.6 62.8 n/a 0.4 19.9 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jun 21 Kevin B Kramer Common Stock, par value $0.10 per share Sell Dispose S No Yes 25 10,000 250K 152,570.361
25 May 21 M Leroy Ball Common Stock, par value $0.10 per share Grant Aquire A No No 0 4,347 0 24,254
25 May 21 Carlisle Herbert J Common Stock, par value $0.10 per share Grant Aquire A No No 0 4,347 0 25,438
25 May 21 Corvi Carolyn Common Stock, par value $0.10 per share Grant Aquire A No No 0 4,347 0 59,027.693
25 May 21 Diggs James C Common Stock, par value $0.10 per share Grant Aquire A No No 0 4,347 0 54,260.815

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 229 236 -3.0%
Opened positions 33 41 -19.5%
Closed positions 40 27 +48.1%
Increased positions 64 63 +1.6%
Reduced positions 84 83 +1.2%
13F shares
Current Prev Q Change
Total value 2.72B 2.13B +27.6%
Total shares 130.47M 127.25M +2.5%
Total puts 418.7K 653.1K -35.9%
Total calls 1.67M 1.75M -4.5%
Total put/call ratio 0.3 0.4 -32.8%
Largest owners
Shares Value Change
BLK Blackrock 20.92M $440.55M +5.5%
Vanguard 13.38M $281.68M +3.6%
Capital International Investors 9.99M $210.36M +18.3%
STT State Street 7.94M $167.26M +18.9%
Dimensional Fund Advisors 7.08M $149.11M +7.9%
D. E. Shaw & Co 5.83M $97.71M 0.0%
Channing Capital Management 4.44M $93.42M -2.4%
Barrow Hanley Mewhinney & Strauss 4.2M $88.45M -8.8%
D. E. Shaw & Co. 3.83M $80.57M -5.7%
Capital International 2.68M $56.47M -10.1%
Largest transactions
Shares Bought/sold Change
Capital International Investors 9.99M +1.54M +18.3%
Norges Bank 0 -1.53M EXIT
STT State Street 7.94M +1.26M +18.9%
IVZ Invesco 1.77M +1.18M +198.7%
BLK Blackrock 20.92M +1.09M +5.5%
Moore Capital Management 762.5K +762.5K NEW
Millennium Management 703.71K -755.77K -51.8%
GS Goldman Sachs 2.52M +612.74K +32.1%
Frontier Capital Management 986.91K +611.87K +163.1%
NTRS Northern Trust 2.08M -604.74K -22.5%

Financial report summary

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Management Discussion
  • Sales in 2020 decreased 28%, to $2.98 billion, and gross profit decreased 54%, to $293 million, compared to 2019, reflecting weakened market conditions resulting from the COVID-19 pandemic. Loss before taxes in 2020 included $1.1 billion of restructuring and other charges, $287 million of goodwill impairment charges, and $22 million in debt extinguishment charges. Results in 2020 also reflect a $78 million income tax provision primarily for valuation allowances on U.S. federal and state net deferred tax assets. The Company’s net loss in 2020 was $1.57 billion, or ($12.43) per share. Adjusted EBITDA was $196.3 million, or 6.6% of sales, for 2020, compared to $439.4 million, or 10.7% of sales, for 2019. See the Financial Condition and Liquidity section of Management’s Discussion and Analysis for these non-GAAP definitions and calculations. Despite these weak market conditions, the Company maintained strong liquidity in 2020, ending the year with $646 million in cash and $950 million of total liquidity.
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