17,017 Shares in ATI Inc. (NYSE:ATI) Bought by Entropy Technologies LP

Key Points

• Entropy Technologies LP has acquired a new stake in ATI Inc., purchasing 17,017 shares valued at approximately $885,000 during the first quarter.
• Several hedge funds, including Capital World Investors and Dendur Capital LP, have significantly increased their holdings in ATI, reflecting strong institutional interest in the company.
• Analysts have raised their price targets for ATI, with JPMorgan setting a new target of $92.00, indicating a positive outlook for the company's performance.

Entropy Technologies LP acquired a new position in shares of ATI Inc. (NYSE:ATI - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,017 shares of the basic materials company's stock, valued at approximately $885,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its holdings 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 worth $31,000 after purchasing an additional 304 shares during the period. Bessemer Group Inc. boosted its position in shares of ATI by 139.9% in 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 acquired a new stake in shares of ATI in the 1st quarter valued at about $36,000. Headlands Technologies LLC acquired a new stake in ATI during the 1st quarter worth approximately $47,000. Finally, Fifth Third Bancorp raised its stake in shares of ATI by 115.7% during the 1st quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock worth $58,000 after buying an additional 603 shares in the last quarter.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total value of $3,733,000.00. Following the transaction, the chairman directly owned 306,538 shares in the company, valued at approximately $22,886,127.08. This represents a 14.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David J. Morehouse sold 7,900 shares of the firm's 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 completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 203,259 shares of company stock valued at $16,026,385 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

ATI Stock Performance

Shares of ATI stock traded down $1.52 during trading on Friday, hitting $72.50. 1,313,755 shares of the stock were exchanged, compared to its average volume of 2,080,387. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $96.20. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.03 and a beta of 1.20. The company has a fifty day moving average price of $84.90 and a 200-day moving average price of $68.36. The company has a current ratio of 2.52, a quick ratio of 1.20 and a debt-to-equity ratio of 0.92.

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 analysts' expectations of $1.15 billion. ATI had a net margin of 9.26% and a return on equity of 21.34%. ATI's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. As a group, equities analysts predict that ATI Inc. will post 2.89 EPS for the current fiscal year.

Analysts Set New Price Targets

ATI has been the subject of several research analyst reports. Susquehanna dropped their price objective on ATI from $105.00 to $100.00 and set a "positive" rating for the company in a research note on Friday, August 1st. Benchmark reiterated a "buy" rating and issued a $81.00 target price on shares of ATI in a report on Monday, April 21st. Deutsche Bank Aktiengesellschaft set a $115.00 target price on ATI and gave the stock a "hold" rating in a research report on Tuesday, July 8th. Barclays boosted their price target on ATI from $75.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. upped their price objective on ATI from $75.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.29.

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.