Magnetar Financial LLC Boosts Stake in ATI Inc. $ATI

Key Points

• Magnetar Financial LLC significantly increased its holdings in ATI Inc. by 874.7% during the 1st quarter, owning a total of 42,401 shares valued at approximately $2.21 million.
• Chairman Robert S. Wetherbee and Director David J. Morehouse sold shares of ATI, with Wetherbee selling 50,000 shares for $3.73 million, reflecting a 14.02% decrease in his ownership.
• Analysts have set a consensus price target of $93.29 for ATI, with several upgrades and rating changes reflecting a general sentiment of "Moderate Buy."

Magnetar Financial LLC increased its holdings in ATI Inc. (NYSE:ATI - Free Report) by 874.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,401 shares of the basic materials company's stock after acquiring an additional 38,051 shares during the period. Magnetar Financial LLC's holdings in ATI were worth $2,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of ATI by 3.3% in the 1st quarter. Invesco Ltd. now owns 4,850,439 shares of the basic materials company's stock worth $252,368,000 after acquiring an additional 153,939 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of ATI by 0.4% in the 4th quarter. Ameriprise Financial Inc. now owns 3,155,477 shares of the basic materials company's stock worth $173,677,000 after acquiring an additional 12,528 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in ATI by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,617,314 shares of the basic materials company's stock valued at $136,164,000 after buying an additional 59,811 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in ATI by 14.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,463,613 shares of the basic materials company's stock valued at $80,557,000 after buying an additional 181,272 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in ATI by 4.5% in the 1st quarter. American Century Companies Inc. now owns 1,422,116 shares of the basic materials company's stock valued at $73,993,000 after buying an additional 60,651 shares during the last quarter.

Insider Activity at ATI

In other ATI news, Director David J. Morehouse sold 7,900 shares of the stock in a transaction that occurred on 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 directly owned 44,777 shares in the company, valued at $3,394,544.37. This represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction that occurred on 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 $22,886,127.08. This represents a 14.02% 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 quarter. Corporate insiders own 1.10% of the company's stock.

ATI Stock Performance

ATI traded up $0.71 on Thursday, hitting $77.22. The company's stock had a trading volume of 363,325 shares, compared to its average volume of 2,050,474. The company's 50 day simple moving average is $82.45 and its 200-day simple moving average is $69.70. The firm has a market cap of $10.64 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 1.06 and a beta of 1.27. ATI Inc. has a 12 month low of $39.23 and a 12 month high of $96.20. 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 released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.74 EPS 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 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 for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. ATI has set its FY 2025 guidance at 2.900-3.07 EPS. Q3 2025 guidance at 0.690-0.75 EPS. Analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Susquehanna decreased their price objective on shares of ATI from $105.00 to $100.00 and set a "positive" rating for the company in a research note on Friday, August 1st. Zacks Research upgraded shares of ATI to a "hold" rating in a research note on Tuesday, August 12th. Barclays increased their price objective on shares of ATI from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. increased 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. Finally, Citigroup upgraded shares of ATI to a "positive" rating in a research note on Tuesday, May 20th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $93.29.

ATI Company 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.