Assenagon Asset Management S.A. Makes New $1.25 Million Investment in ATI Inc. $ATI

Key Points

• Assenagon Asset Management S.A. acquired 14,513 shares of ATI Inc., valued at approximately $1.25 million, during the second quarter of 2023.
• CEO Kimberly A. Fields sold 20,312 shares of the company at an average price of $80.33, reducing her ownership by 7.66%.
• Analysts have a consensus rating of "Moderate Buy" for ATI, with an average target price of $93.29.

Assenagon Asset Management S.A. acquired a new position in ATI Inc. (NYSE:ATI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,513 shares of the basic materials company's stock, valued at approximately $1,253,000.

A number of other large investors have also added to or reduced their stakes in the company. Financiere des Professionnels Fonds d investissement inc. bought a new stake in ATI in the 2nd quarter worth approximately $435,000. MassMutual Private Wealth & Trust FSB increased its position in shares of ATI by 79.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 386 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 171 shares during the last quarter. Juncture Wealth Strategies LLC bought a new position in shares of ATI during the 2nd quarter valued at approximately $240,000. Peak Financial Advisors LLC bought a new position in shares of ATI during the 2nd quarter valued at approximately $495,000. Finally, Voya Investment Management LLC increased its position in shares of ATI by 87.9% during the 1st quarter. Voya Investment Management LLC now owns 109,334 shares of the basic materials company's stock valued at $5,689,000 after purchasing an additional 51,143 shares during the last quarter.

Insiders Place Their Bets

In other ATI news, CEO Kimberly A. Fields sold 20,312 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $80.33, for a total value of $1,631,662.96. Following the completion of the sale, the chief executive officer directly owned 244,975 shares in the company, valued at approximately $19,678,841.75. This represents a 7.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David J. Morehouse sold 7,900 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $75.81, for a total value of $598,899.00. Following the completion of the sale, the director owned 44,777 shares of the company's stock, valued at $3,394,544.37. This represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,153 shares of company stock worth $7,199,308. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ATI shares. Zacks Research raised ATI to a "hold" rating in a research report on Tuesday, August 12th. Deutsche Bank Aktiengesellschaft set a $115.00 target price on ATI and gave the company a "hold" rating in a research report on Tuesday, July 8th. BTIG Research reissued a "buy" rating and set a $120.00 target price on shares of ATI in a research report on Friday, September 12th. Susquehanna cut their target price on ATI from $105.00 to $100.00 and set a "positive" rating on the stock in a research report on Friday, August 1st. Finally, Barclays boosted their target price on ATI from $75.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $93.29.

ATI Stock Performance

Shares of ATI stock opened at $82.96 on Friday. The stock's fifty day moving average is $79.02 and its two-hundred day moving average is $72.13. The company has a market capitalization of $11.43 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 1.06 and a beta of 1.27. The company has a quick ratio of 1.20, a current ratio of 2.52 and a debt-to-equity ratio of 0.92. ATI Inc. has a 52 week low of $39.23 and a 52 week high of $96.20.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.72 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. ATI had a return on equity of 21.34% and a net margin of 9.26%.ATI's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. 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 expect that ATI Inc. will post 2.89 earnings per share for the current year.

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.

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