Dark Forest Capital Management LP Makes New $3.35 Million Investment in ATI Inc. $ATI

Key Points

• Dark Forest Capital Management LP acquired 64,436 shares of ATI Inc. valued at approximately $3.35 million in the first quarter of the year.
• In a series of insider transactions, Director David J. Morehouse and Chairman Robert S. Wetherbee sold significant portions of their holdings, with the latter selling 50,000 shares for over $4.1 million.
• Analysts are optimistic about ATI, with six rating it as a "Buy" and three as a "Hold," and an average target price of $93.29, indicating potential for growth.

Dark Forest Capital Management LP bought a new position in shares of ATI Inc. (NYSE:ATI - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 64,436 shares of the basic materials company's stock, valued at approximately $3,353,000.

Several other hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in ATI by 3.3% during the 1st quarter. Invesco Ltd. now owns 4,850,439 shares of the basic materials company's stock worth $252,368,000 after buying an additional 153,939 shares during the period. Ameriprise Financial Inc. raised its holdings in ATI by 0.4% during the 4th quarter. Ameriprise Financial Inc. now owns 3,155,477 shares of the basic materials company's stock worth $173,677,000 after buying an additional 12,528 shares during the period. Dimensional Fund Advisors LP raised its holdings in ATI by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,617,314 shares of the basic materials company's stock worth $136,164,000 after buying an additional 59,811 shares during the period. D. E. Shaw & Co. Inc. grew its stake in shares of ATI by 14.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,463,613 shares of the basic materials company's stock worth $80,557,000 after acquiring an additional 181,272 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of ATI by 4.5% during the 1st quarter. American Century Companies Inc. now owns 1,422,116 shares of the basic materials company's stock worth $73,993,000 after acquiring an additional 60,651 shares in the last quarter.

ATI Stock Up 0.4%

Shares of NYSE:ATI traded up $0.32 during midday trading on Friday, hitting $77.48. The stock had a trading volume of 1,820,755 shares, compared to its average volume of 1,693,288. ATI Inc. has a 12 month low of $39.23 and a 12 month high of $96.20. The company has a quick ratio of 1.20, a current ratio of 2.52 and a debt-to-equity ratio of 0.92. The business's 50-day simple moving average is $82.09 and its 200-day simple moving average is $69.98. The company has a market cap of $10.68 billion, a P/E ratio of 26.90, a PEG ratio of 1.06 and a beta of 1.27.

ATI (NYSE:ATI - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. ATI had a net margin of 9.26% and a return on equity of 21.34%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same period last year, the business earned $0.60 earnings per share. The firm's revenue was up 4.1% on a year-over-year basis. ATI has set its FY 2025 guidance at 2.900-3.07 EPS. Q3 2025 guidance at 0.690-0.75 EPS. On average, sell-side analysts forecast that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ATI news, Director David J. Morehouse sold 7,900 shares of ATI stock in a transaction on Monday, August 4th. The shares were sold at an average price of $75.81, for a total transaction of $598,899.00. Following the completion of the transaction, the director directly owned 44,777 shares of the company's stock, valued at $3,394,544.37. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $83.93, for a total transaction of $4,196,500.00. Following the transaction, the chairman directly owned 356,538 shares of the company's stock, valued at approximately $29,924,234.34. This trade represents a 12.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,900 shares of company stock valued at $8,528,399. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ATI shares. Citigroup raised shares of ATI to a "positive" rating in a research note on Tuesday, May 20th. Susquehanna decreased their price target on shares of ATI from $105.00 to $100.00 and set a "positive" rating for the company in a research note on Friday, August 1st. BTIG Research set a $120.00 price target on shares of ATI and gave the stock a "buy" rating in a research note on Monday, August 4th. Barclays raised their price target on shares of ATI from $75.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, Zacks Research raised shares of ATI to a "hold" rating in a research note on Tuesday, August 12th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $93.29.

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.