Appian Way Asset Management LP Takes Position in ATI Inc. $ATI

Key Points

• Appian Way Asset Management LP invested approximately $4.78 million in ATI Inc., purchasing 91,765 shares, making it the 17th largest position in their portfolio.
• ATI's stock reached a one-year high of $96.20 and reported earnings of $0.74 per share, exceeding analyst expectations.
• Research firms have set a consensus target price of $93.29 for ATI, with six analysts rating it as a "Buy" and three as a "Hold".

Appian Way Asset Management LP acquired a new stake in shares of ATI Inc. (NYSE:ATI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 91,765 shares of the basic materials company's stock, valued at approximately $4,775,000. ATI comprises 1.1% of Appian Way Asset Management LP's holdings, making the stock its 17th largest position. Appian Way Asset Management LP owned approximately 0.07% of ATI as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Dark Forest Capital Management LP acquired a new position in shares of ATI during the first quarter valued at about $3,353,000. PDT Partners LLC raised its position in shares of ATI by 15.4% during the first quarter. PDT Partners LLC now owns 98,362 shares of the basic materials company's stock valued at $5,118,000 after buying an additional 13,100 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of ATI during the first quarter valued at about $12,954,000. Royal Bank of Canada raised its position in shares of ATI by 8.1% during the first quarter. Royal Bank of Canada now owns 60,369 shares of the basic materials company's stock valued at $3,140,000 after buying an additional 4,542 shares during the last quarter. Finally, Quarry LP raised its position in shares of ATI by 216.6% during the first quarter. Quarry LP now owns 1,770 shares of the basic materials company's stock valued at $92,000 after buying an additional 1,211 shares during the last quarter.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total transaction of $3,733,000.00. Following the completion of the sale, the chairman owned 306,538 shares of the company's stock, valued at approximately $22,886,127.08. This trade represents a 14.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David J. Morehouse sold 7,900 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.81, for a total transaction of $598,899.00. Following the sale, the director directly owned 44,777 shares of the company's stock, valued at approximately $3,394,544.37. The trade was a 15.00% decrease in their position. The disclosure for this sale can be found here. In 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.

ATI Price Performance

Shares of NYSE ATI traded up $0.32 during mid-day trading on Friday, hitting $77.48. 1,820,755 shares of the stock were exchanged, compared to its average volume of 1,693,288. The company has a market cap of $10.68 billion, a P/E ratio of 26.90, a PEG ratio of 1.05 and a beta of 1.27. The stock's fifty day simple moving average is $82.09 and its two-hundred day simple moving average is $69.92. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.20 and a current ratio of 2.52. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $96.20.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ATI. BTIG Research set a $120.00 price objective on shares of ATI and gave the company a "buy" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. increased their price target on shares of ATI from $75.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Susquehanna dropped their price target on shares of ATI from $105.00 to $100.00 and set a "positive" rating for the company in a research report on Friday, August 1st. Citigroup raised shares of ATI to a "positive" rating in a research report on Tuesday, May 20th. Finally, Zacks Research raised shares of ATI to a "hold" rating in a research report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently 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.