Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, capitalizing on established price movements [1]. Company Overview: ATI - ATI currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2]. - The company has a Zacks Rank of 2 (Buy), suggesting a favorable outlook based on historical performance metrics [3]. Performance Metrics - Over the past week, ATI shares have increased by 8.52%, outperforming the Zacks Aerospace - Defense Equipment industry, which rose by 2.44% [5]. - In a longer timeframe, ATI's shares have appreciated by 36.12% over the past quarter and 92.32% over the last year, significantly surpassing the S&P 500's gains of 3.31% and 13.94%, respectively [6]. Trading Volume - ATI's average 20-day trading volume is 1,396,742 shares, which serves as a bullish indicator when combined with rising stock prices [7]. Earnings Outlook - In the last two months, four earnings estimates for ATI have been revised upwards, while none have been lowered, leading to an increase in the consensus estimate from $3.05 to $3.20 [9]. - For the next fiscal year, five estimates have also moved higher without any downward revisions [9]. Conclusion - Given the strong performance metrics and positive earnings outlook, ATI is positioned as a promising investment opportunity with a Momentum Score of A [11].

Core Insights - The average brokerage recommendation (ABR) for ATI is 1.40, indicating a consensus between Strong Buy and Buy based on recommendations from 10 brokerage firms [2] - Eight out of ten recommendations for ATI are Strong Buy, representing 80% of the total recommendations [2] - Despite the positive ABR, relying solely on brokerage recommendations may not be advisable as they often lack success in guiding investors towards stocks with high price appreciation potential [5][11] Brokerage Recommendation Trends - Brokerage firms tend to exhibit a strong positive bias in their ratings, with a ratio of five Strong Buy recommendations for every Strong Sell [6] - This bias suggests that the interests of brokerage firms may not align with those of retail investors, limiting the insight into future stock price movements [7] - The Zacks Rank, a proprietary stock rating tool, is recommended as a more reliable indicator of near-term price performance compared to ABR [8] Zacks Rank vs. ABR - Zacks Rank and ABR are different measures; ABR is based solely on brokerage recommendations, while Zacks Rank utilizes earnings estimate revisions [9][10] - The Zacks Rank is timely and reflects changes in earnings estimates quickly, providing a more current indication of future price movements [13] - The Zacks Consensus Estimate for ATI has increased by 1.9% over the past month to $3.2, indicating growing optimism among analysts regarding the company's earnings prospects [14] Investment Outlook for ATI - The recent change in the consensus estimate, along with other factors, has resulted in a Zacks Rank 2 (Buy) for ATI, suggesting a positive investment outlook [15] - The Buy-equivalent ABR for ATI may serve as a useful guide for investors, complementing the insights provided by the Zacks Rank [15]

Core Viewpoint - ATI shares have shown significant performance, with a 90.3% increase year-to-date, outperforming the Zacks Aerospace sector and the Aerospace - Defense Equipment industry [1][3] Financial Performance - In the last earnings report on October 28, 2025, ATI reported EPS of $0.85, exceeding the consensus estimate of $0.75 [2] - For the current fiscal year, ATI is expected to post earnings of $3.2 per share on revenues of $4.6 billion, reflecting a 30.08% change in EPS and a 5.46% change in revenues [3] - For the next fiscal year, earnings are projected at $3.93 per share on revenues of $4.97 billion, indicating a year-over-year change of 23% in EPS and 7.98% in revenues [3] Valuation Metrics - ATI currently trades at 32.8X current fiscal year EPS estimates, below the peer industry average of 37.7X [7] - On a trailing cash flow basis, ATI trades at 29.5X compared to the peer group's average of 27.7X [7] - The stock has a PEG ratio of 1.36, which does not place it among the top echelon from a value perspective [7] Zacks Rank and Style Scores - ATI holds a Zacks Rank of 2 (Buy) due to rising earnings estimates, meeting the criteria for potential investment [8] - The stock has a Value Score of C, a Growth Score of C, and a Momentum Score of A, resulting in a VGM Score of B [6] Industry Comparison - The Aerospace - Defense Equipment industry is positioned in the top 38% of all industries, indicating favorable conditions for ATI and its peers [11] - Woodward, Inc. (WWD), a peer in the industry, also shows strong performance with a Zacks Rank of 2 (Buy) and a projected EPS of $7.69 for the current fiscal year [9][10]

Core Insights - ATI shares increased by 5.3% to close at $104.73, supported by higher trading volume compared to normal sessions, contrasting with a 1.5% gain over the past four weeks [1] - The stock's rally is attributed to optimism regarding ATI's strong performance in the aerospace and defense sectors, which is enhancing its revenue and margins [2] - The recent appointment of James Robert Foster as Senior Vice President, Finance and CFO is expected to contribute operational depth and financial discipline to ATI's growth [2] Financial Performance - ATI is projected to report quarterly earnings of $0.88 per share, reflecting an 11.4% year-over-year increase, with revenues anticipated at $1.2 billion, a 2.6% rise from the previous year [3] - The consensus EPS estimate for ATI has been revised 0.7% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation [4] Industry Context - ATI holds a Zacks Rank of 2 (Buy) and is part of the Zacks Aerospace - Defense Equipment industry, which includes Moog (MOG.A), another stock in the sector that saw a 2% increase to $239.2 [5] - Moog's consensus EPS estimate remains at $2.31, representing a 29.8% increase from the previous year, and it currently holds a Zacks Rank of 3 (Hold) [6]

Core Insights - ATI Inc. has appointed James Robert "Rob" Foster as the new Senior Vice President, Finance and Chief Financial Officer, effective January 1, 2026, succeeding Don Newman, who will transition to a Strategic Advisor role [1][2]. Leadership Transition - Rob Foster is a long-time leader at ATI, previously serving as President of ATI's Specialty Alloys & Components business, where he enhanced efficiency and expanded capacity [2]. - Foster has a strong background in finance and operations, having held various roles including Vice President of Finance, Supply Chain, and Capital Projects, overseeing global finance and capital deployment [2][3]. - Kim Fields, President and CEO of ATI, expressed confidence in Foster's ability to drive the next phase of profitable growth, highlighting his expertise in finance and operational leadership [3]. Company Strategy and Outlook - Foster emphasized ATI's strong balance sheet and focused strategy, indicating significant opportunities for disciplined investment and long-term value creation for shareholders [3]. - The company reiterated its guidance for the fourth quarter and full year 2025, signaling confidence in its financial performance [4]. Company Profile - ATI is a producer of high-performance materials and solutions for aerospace, defense, electronics, medical, and specialty energy markets, focusing on solving complex challenges through materials science [5].

Core Viewpoint - The Carillon Scout Mid Cap Fund's third-quarter 2025 investor letter highlights strong corporate earnings and AI infrastructure momentum as key drivers for positive returns in the Russell Midcap Index [1]. Company Overview - ATI Inc. (NYSE:ATI) is an industrial company focused on producing and distributing specialty materials and complex components, primarily for the aerospace and defense markets [2][3]. - As of December 02, 2025, ATI Inc. stock closed at $98.66 per share, with a market capitalization of $13.599 billion [2]. Stock Performance - ATI Inc. stock gained 2.25% over the past month and has risen 64.71% in value over the last 52 weeks [2]. - The company's third-quarter revenue increased by 7% year-over-year, exceeding $1.1 billion [4]. Investment Sentiment - Despite ATI Inc.'s potential, the fund suggests that certain AI stocks may offer greater upside potential and carry less downside risk [4]. - ATI Inc. is not among the 30 most popular stocks among hedge funds, with 58 hedge fund portfolios holding its stock at the end of the third quarter, up from 57 in the previous quarter [4]. Strategic Shift - The company is shifting away from commodity products towards higher value-added offerings for aerospace, medical, electronics, and specialty energy uses, which is viewed positively for long-term growth [3]. - There is significant long-term growth potential in the aerospace sector as demand for travel increases and airlines modernize their fleets with more fuel-efficient planes [3].

Industry Overview - 3D Printing, also known as additive manufacturing, has transformed product design and production since its introduction in the 1980s, offering precision, customization, and efficiency [1] - The technology has evolved from a prototyping technique to a comprehensive manufacturing solution across various sectors, including healthcare, aerospace, automotive, and consumer goods [2][4] - Additive manufacturing reduces waste, allows for complex designs, and supports on-demand production, which is particularly advantageous for industries with fluctuating demand [3] Market Dynamics - North America holds over 35% of the 3D Printing market share, driven by strong R&D investments and advanced manufacturing infrastructure, while the Asia-Pacific region, led by China and India, is rapidly advancing in this field [5] - The adoption of 3D Printing is accelerating due to its cost-effectiveness, customization capabilities, and sustainability compared to traditional manufacturing methods [3] Key Players - Proto Labs is recognized as a leader in rapid prototyping and on-demand production, operating over 120 additive manufacturing machines and producing more than 250,000 parts monthly [7] - AMETEK specializes in high-performance metal powders for additive manufacturing, with a diverse range of alloys tailored for various processes [12][13] - ATI Additive Manufacturing offers comprehensive capabilities across the additive supply chain, focusing on both Electron Beam Melting and Direct Metal Laser Melting technologies [15][16] Recent Developments - Proto Labs has expanded its manufacturing capacity in response to rising demand for metal 3D-printed parts and introduced advanced technologies like Axtra3D Hybrid PhotoSynthesis [9][8] - AMETEK's acquisition of Faro Technologies for $920 million enhances its 3D metrology portfolio, complementing previous acquisitions to strengthen its precision scanning capabilities [14] - ATI has launched a state-of-the-art facility for additive manufacturing, integrating design, printing, and inspection processes to serve high-performance markets [17]

Core Viewpoint - ATI reported strong earnings for Q3 2025, with adjusted earnings exceeding estimates, but net sales fell short of expectations, indicating mixed performance in the market [2][3]. Financial Performance - ATI recorded a profit of $110 million or 78 cents per share for Q3 2025, an increase from $82.7 million or 57 cents in the same quarter last year [2]. - Adjusted earnings were 85 cents, up 42% from the previous year's 60 cents, surpassing the Zacks Consensus Estimate of 75 cents [2]. - Net sales for Q3 were $1,125.5 million, missing the Zacks Consensus Estimate of $1,139.8 million, but showing a 7% year-over-year increase [3]. Segment Highlights - HPMC segment reported sales of $602.9 million, up 9% year-over-year, but below the consensus estimate of $623 million; segment EBITDA rose 18.3% to $145.8 million [4]. - Advanced Alloys & Solutions (AA&S) recorded sales of $522.6 million, a 4.8% increase from $498.8 million, exceeding the consensus estimate of $507 million; however, segment EBITDA decreased by 23% year-over-year to $90.4 million [5]. Financial Position - As of Q3 2025, cash and cash equivalents were $372.2 million, down 8.6% year-over-year; long-term debt decreased by 7.6% to $1,715.2 million [6]. Outlook - For Q4 2025, adjusted EBITDA is expected to be between $221 million and $231 million, with full-year guidance raised to $848 million-$858 million from the previous $810 million-$840 million [7]. - Adjusted earnings per share for Q4 are projected at 84-90 cents, and for the full year at $3.15 to $3.21, an increase from earlier expectations of $2.90-$3.07 [7]. - Adjusted free cash flow for the full year is estimated between $330 million and $370 million, with capital expenditures anticipated to be $260 million to $280 million [7]. Market Sentiment - Since the earnings release, there has been an upward trend in estimates for ATI, indicating positive market sentiment [8][10]. - ATI holds a Zacks Rank 2 (Buy), suggesting expectations for above-average returns in the coming months [10]. Industry Comparison - ATI operates within the Zacks Aerospace - Defense Equipment industry, where competitor Hexcel (HXL) reported a slight revenue decline of 0.1% year-over-year, with a Zacks Rank 4 (Sell) [11][12].

Core Points - Robert S. Wetherbee will retire as Executive Chair and Board member of ATI Inc. [1] - Kimberly A. Fields has been elected as the new Board Chair of ATI, in addition to her current roles as Chief Executive Officer and President [1]

Core Insights - ATI Inc. reported a profit of $110 million or 78 cents per share for Q3 2025, an increase from $82.7 million or 57 cents in the same quarter last year [1] - Adjusted earnings rose 42% to 85 cents, surpassing the Zacks Consensus Estimate of 75 cents [1][8] - Net sales for the third quarter were $1,125.5 million, a 7% year-over-year increase, but below the Zacks Consensus Estimate of $1,139.8 million [2][8] Segment Performance - High-Performance Materials & Components (HPMC) reported sales of $602.9 million, up 9% year over year, but below the consensus estimate of $623 million; segment EBITDA increased 18.3% to $145.8 million [3] - Advanced Alloys & Solutions (AA&S) recorded sales of $522.6 million, a 4.8% increase from $498.8 million, exceeding the consensus estimate of $507 million; however, segment EBITDA decreased 23% to $90.4 million [4] Financial Overview - Cash and cash equivalents stood at $372.2 million, down 8.6% year over year; long-term debt decreased by 7.6% to $1,715.2 million [5] - For Q4 2025, adjusted EBITDA is expected to be between $221 million and $231 million, with full-year guidance raised to $848 million-$858 million; adjusted earnings per share are projected at 84-90 cents for Q4 and $3.15 to $3.21 for the full year [6][8] Market Position - ATI currently holds a Zacks Rank 2 (Buy), indicating a favorable outlook in the market [7]