16,350 Shares in ATI Inc. (NYSE:ATI) Purchased by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP has acquired 16,350 shares of ATI Inc. stock in the first quarter, valued at approximately $851,000, indicating growing institutional interest in the company.
• Analysts are optimistic about ATI's performance, with JPMorgan Chase raising its price target from $75.00 to $92.00 and several other firms upgrading their ratings, reflecting a consensus rating of "Moderate Buy."
• Chairman Robert S. Wetherbee sold 50,000 shares, reducing his stake by 12.30%, highlighting insider activity amid the company’s recent earnings report which exceeded analysts' expectations.

GSA Capital Partners LLP bought a new position in shares of ATI Inc. (NYSE:ATI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,350 shares of the basic materials company's stock, valued at approximately $851,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its position in ATI by 3.1% during the first quarter. Federated Hermes Inc. now owns 443,023 shares of the basic materials company's stock worth $23,050,000 after acquiring an additional 13,478 shares during the last quarter. LPL Financial LLC raised its position in ATI by 18.5% during the first quarter. LPL Financial LLC now owns 56,808 shares of the basic materials company's stock worth $2,956,000 after acquiring an additional 8,876 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in ATI by 66.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,395 shares of the basic materials company's stock worth $2,726,000 after acquiring an additional 20,850 shares during the last quarter. Royce & Associates LP raised its position in ATI by 9.0% during the first quarter. Royce & Associates LP now owns 271,222 shares of the basic materials company's stock worth $14,112,000 after acquiring an additional 22,320 shares during the last quarter. Finally, 1492 Capital Management LLC raised its position in shares of ATI by 104.4% in the first quarter. 1492 Capital Management LLC now owns 51,032 shares of the basic materials company's stock valued at $2,655,000 after buying an additional 26,065 shares during the last quarter.

ATI Stock Performance

Shares of NYSE:ATI traded up $0.05 on Wednesday, reaching $74.52. 1,317,898 shares of the company's stock were exchanged, compared to its average volume of 2,085,189. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 1.00 and a beta of 1.20. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $96.20. The business's 50-day moving average is $85.87 and its two-hundred day moving average is $67.64. 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 issued its earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The company had revenue of $1.14 billion for 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%. The firm's revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. As a group, equities research analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Insider Buying and Selling at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $83.93, for a total value of $4,196,500.00. Following the sale, the chairman owned 356,538 shares of the company's stock, valued at $29,924,234.34. This trade represents a 12.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 145,359 shares of company stock valued at $11,694,486. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ATI shares. Citigroup raised shares of ATI to a "positive" rating in a research report on Tuesday, May 20th. Benchmark reaffirmed a "buy" rating and set a $81.00 price target on shares of ATI in a research report on Monday, April 21st. KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. 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. Finally, BTIG Research set a $120.00 price objective on shares of ATI and gave the stock a "buy" rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.