Cubist Systematic Strategies LLC Buys New Position in ATI Inc. $ATI

Key Points

• Cubist Systematic Strategies LLC has invested approximately $12.95 million in ATI Inc., acquiring 248,963 shares, which represents about 0.18% of the company's stock.
• ATI reported $0.74 earnings per share for the last quarter, exceeding the consensus estimate by $0.02, while its revenue reached $1.14 billion, up 4.1% from the previous year.
• Several analysts have given ATI a consensus rating of "Moderate Buy," with a price target averaging around $93.29, indicating potential growth expectations.

Cubist Systematic Strategies LLC acquired a new position in shares of ATI Inc. (NYSE:ATI - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 248,963 shares of the basic materials company's stock, valued at approximately $12,954,000. Cubist Systematic Strategies LLC owned about 0.18% of ATI as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. WPG Advisers LLC purchased a new stake in ATI during the 1st quarter worth $29,000. Golden State Wealth Management LLC boosted its position in ATI by 104.1% during the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock worth $31,000 after purchasing an additional 304 shares during the period. Bessemer Group Inc. boosted its position in ATI by 139.9% during the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock worth $34,000 after purchasing an additional 386 shares during the period. Olde Wealth Management LLC purchased a new stake in ATI during the 1st quarter worth $36,000. Finally, Headlands Technologies LLC purchased a new stake in ATI during the 1st quarter worth $47,000.

Insider Activity

In related news, Director David J. Morehouse sold 7,900 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $75.81, for a total transaction of $598,899.00. Following the sale, the director owned 44,777 shares in the company, valued at $3,394,544.37. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert S. Wetherbee sold 50,000 shares of the 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 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 quarter, insiders have sold 107,900 shares of company stock worth $8,528,399. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. upped 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. Deutsche Bank Aktiengesellschaft set a $115.00 price target on shares of ATI and gave the stock a "hold" rating in a research report on Tuesday, July 8th. Barclays raised their target price on ATI from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Zacks Research upgraded 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.29.

ATI Stock Up 0.9%

Shares of ATI stock traded up $0.65 during trading on Thursday, reaching $77.16. The company had a trading volume of 1,359,747 shares, compared to its average volume of 2,056,500. The company has a market cap of $10.64 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.06 and a beta of 1.27. The firm's fifty day moving average is $82.45 and its 200-day moving average is $69.70. 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 fifty-two week low of $39.23 and a fifty-two week high of $96.20.

ATI (NYSE:ATI - Get Free Report) last released 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 firm had revenue of $1.14 billion for 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%. ATI's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business 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, analysts anticipate that ATI Inc. will post 2.89 EPS 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.