Cinctive Capital Management LP Boosts Stock Holdings in ATI Inc. $ATI

Key Points

• Cinctive Capital Management LP has increased its stake in ATI Inc. by 68.9% in Q1, acquiring an additional 9,972 shares for a total of 24,435 shares valued at approximately $1.27 million.
• Analysts have shown a mixed sentiment towards ATI shares, with price targets ranging significantly, including $92.00 from JPMorgan and $120.00 from BTIG Research, leading to a consensus rating of "Moderate Buy".
• In recent insider transactions, Director David J. Morehouse and Chairman Robert S. Wetherbee sold a combined total of 57,900 shares, indicating a decrease in insider ownership by approximately 15% and 14% respectively.

Cinctive Capital Management LP raised its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 68.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,435 shares of the basic materials company's stock after buying an additional 9,972 shares during the period. Cinctive Capital Management LP's holdings in ATI were worth $1,271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ATI. WPG Advisers LLC bought a new position in shares of ATI during the first quarter valued at about $29,000. Golden State Wealth Management LLC raised its stake in shares of ATI by 104.1% during the first 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. raised its stake in shares of ATI by 139.9% during the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 386 shares during the last quarter. Olde Wealth Management LLC bought a new position in shares of ATI during the first quarter valued at about $36,000. Finally, Headlands Technologies LLC bought a new position in shares of ATI during the first quarter valued at about $47,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ATI shares. JPMorgan Chase & Co. upped their price objective on shares of ATI from $75.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. BTIG Research set a $120.00 price objective on shares of ATI and gave the company a "buy" rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of ATI and gave the company a "hold" rating in a research note on Tuesday, July 8th. Citigroup raised shares of ATI to a "positive" rating in a research note on Tuesday, May 20th. Finally, KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, ATI has a consensus rating of "Moderate Buy" and a consensus target price of $93.29.

ATI Price Performance

ATI stock opened at $77.16 on Friday. 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 $10.64 billion, a P/E ratio of 26.79, a PEG ratio of 1.04 and a beta of 1.27. The firm has a 50-day moving average of $82.28 and a 200 day moving average of $69.82. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.52 and a quick ratio of 1.20.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. ATI had a net margin of 9.26% and a return on equity of 21.34%. ATI's revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $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. On average, sell-side analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Insider Transactions at ATI

In other ATI news, Director David J. Morehouse sold 7,900 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $75.81, for a total value of $598,899.00. Following the sale, the director owned 44,777 shares in the company, valued at approximately $3,394,544.37. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was 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 in the company, valued at approximately $22,886,127.08. This trade represents a 14.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,900 shares of company stock worth $8,528,399. Corporate insiders own 1.10% of the company's stock.

About ATI

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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