Senator Investment Group LP Boosts Stake in ATI Inc. $ATI

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Senator Investment Group LP increased its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 68.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,212,500 shares of the basic materials company's stock after acquiring an additional 493,944 shares during the period. ATI accounts for about 3.3% of Senator Investment Group LP's holdings, making the stock its 6th largest position. Senator Investment Group LP owned about 0.86% of ATI worth $63,086,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC increased its holdings in shares of ATI by 104.1% during the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock valued at $31,000 after acquiring an additional 304 shares during the last quarter. Bessemer Group Inc. boosted its stake in ATI by 139.9% during the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 386 shares during the period. Olde Wealth Management LLC bought a new stake in ATI during the 1st quarter valued at approximately $36,000. Headlands Technologies LLC bought a new stake in ATI during the 1st quarter valued at approximately $47,000. Finally, Fifth Third Bancorp boosted its stake in ATI by 115.7% during the 1st quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock valued at $58,000 after purchasing an additional 603 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have commented on ATI shares. Citigroup upgraded ATI to a "positive" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. raised their price objective on ATI from $75.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on ATI and gave the stock a "hold" rating in a research report on Tuesday, July 8th. BTIG Research set a $120.00 target price on ATI and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Barclays increased their target price on ATI from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.29.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $74.66, for a total value of $3,733,000.00. Following the completion of the sale, the chairman directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $598,899.00. Following the completion of the sale, the director directly owned 44,777 shares of the company's stock, valued at $3,394,544.37. This trade represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 157,900 shares of company stock valued at $12,610,399 over the last three months. Insiders own 1.10% of the company's stock.

ATI Price Performance

ATI stock traded up $1.8820 during midday trading on Friday, reaching $73.6820. 1,756,799 shares of the company's stock traded hands, compared to its average volume of 2,386,249. The company has a 50-day simple moving average of $83.49 and a two-hundred day simple moving average of $68.91. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $96.20. The company has a market cap of $10.16 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 0.98 and a beta of 1.20. The company has a quick ratio of 1.20, a current ratio of 2.52 and a debt-to-equity ratio of 0.92.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. ATI had a return on equity of 21.34% and a net margin of 9.26%.The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same period last year, the firm posted $0.60 EPS. The business'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, analysts anticipate 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.