ATI Inc. $ATI Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stock position in ATI Inc. by 80.2%, owning only 4,722 shares after selling 19,186 shares in the first quarter.
• Multiple hedge funds increased their holdings in ATI, with Golden State Wealth Management raising its stake by 104.1% and Bessemer Group Inc. by 139.9% during the same period.
• Despite the sell-off, several brokerages, including Zacks Research and Citigroup, have issued ratings reflecting a buy or hold consensus, with an average target price of $93.29 for ATI shares.

Hsbc Holdings PLC lowered its position in ATI Inc. (NYSE:ATI - Free Report) by 80.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,722 shares of the basic materials company's stock after selling 19,186 shares during the quarter. Hsbc Holdings PLC's holdings in ATI were worth $246,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC increased its position in shares of ATI by 104.1% in the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock valued at $31,000 after buying an additional 304 shares in the last quarter. Bessemer Group Inc. increased its position in shares of ATI by 139.9% in the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after buying an additional 386 shares in the last quarter. Olde Wealth Management LLC purchased a new position in shares of ATI in the first quarter valued at $36,000. Headlands Technologies LLC purchased a new position in shares of ATI in the first quarter valued at $47,000. Finally, Fifth Third Bancorp increased its position in 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 purchasing an additional 603 shares in the last quarter.

Analyst Upgrades and Downgrades

ATI has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted 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. Barclays lifted their price objective on ATI from $75.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. 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. Citigroup upgraded ATI to a "positive" rating in a research report on Tuesday, May 20th. Finally, Zacks Research upgraded ATI to a "hold" rating in a research report on Tuesday, August 12th. Six equities research 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 stock has an average rating of "Moderate Buy" and a consensus price target of $93.29.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $83.93, for a total value of $4,196,500.00. Following the transaction, the chairman directly owned 356,538 shares of the company's stock, valued at $29,924,234.34. The trade was a 12.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David J. Morehouse sold 7,900 shares of ATI 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 completion of the transaction, the director directly 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 sold a total of 107,900 shares of company stock worth $8,528,399 over the last ninety days. Corporate insiders own 1.10% of the company's stock.

ATI Trading Up 0.4%

ATI stock traded up $0.32 during midday trading on Friday, reaching $77.48. The stock had a trading volume of 1,820,755 shares, compared to its average volume of 1,693,288. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $96.20. The stock has a market capitalization of $10.68 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.06 and a beta of 1.27. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.20 and a current ratio of 2.52. The stock's 50-day simple moving average is $82.09 and its 200 day simple moving average is $69.98.

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, beating analysts' consensus estimates of $0.72 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.15 billion. ATI had a return on equity of 21.34% and a net margin of 9.26%.The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last 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. Analysts expect 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.