Anomaly Capital Management LP Purchases Shares of 635,876 ATI Inc. (NYSE:ATI)

Anomaly Capital Management LP acquired a new stake in ATI Inc. (NYSE:ATI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 635,876 shares of the basic materials company's stock, valued at approximately $34,999,000. ATI accounts for approximately 1.0% of Anomaly Capital Management LP's portfolio, making the stock its 26th biggest holding. Anomaly Capital Management LP owned approximately 0.45% of ATI at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. MML Investors Services LLC boosted its holdings in ATI by 16.7% in the third quarter. MML Investors Services LLC now owns 6,311 shares of the basic materials company's stock valued at $422,000 after acquiring an additional 904 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of ATI by 16.2% during the 3rd quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company's stock valued at $27,993,000 after purchasing an additional 61,999 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of ATI during the third quarter valued at about $3,088,000. ORG Wealth Partners LLC bought a new position in ATI in the fourth quarter worth about $25,000. Finally, Fragasso Financial Advisors Inc purchased a new stake in ATI in the fourth quarter worth about $403,000.

ATI Stock Up 1.1 %

ATI stock traded up $0.60 during trading on Friday, hitting $53.05. 1,178,074 shares of the stock traded hands, compared to its average volume of 1,696,053. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $68.92. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 0.85 and a beta of 0.80. The firm's 50 day moving average is $51.52 and its two-hundred day moving average is $55.96. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32.

ATI (NYSE:ATI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.19. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. On average, sell-side analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ATI shares. StockNews.com raised ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. Benchmark reissued a "buy" rating and set a $81.00 price objective on shares of ATI in a research report on Monday, April 21st. Barclays boosted their target price on shares of ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, February 10th. KeyCorp upgraded shares of ATI from a "sector weight" rating to an "overweight" rating and set a $55.00 price target for the company in a research note on Wednesday. Finally, Susquehanna boosted their price objective on shares of ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $73.29.

Insider Buying and Selling

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the completion of the sale, the senior vice president now directly owns 25,994 shares in the company, valued at $1,726,261.54. The trade was a 27.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

ATI 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.