PDT Partners LLC Raises Holdings in ATI Inc. $ATI

Key Points

• PDT Partners LLC increased its stake in ATI Inc. by 15.4% during the first quarter, owning 98,362 shares valued at $5.1 million.
• Several hedge funds, including Cubist Systematic Strategies and Quarry LP, made significant adjustments to their holdings in ATI, reflecting growing investor interest.
• Equity analysts generally upgraded ATI's stock, with a consensus rating of "Moderate Buy" and an average target price of $93.29, indicating positive market sentiment.

PDT Partners LLC increased its stake in ATI Inc. (NYSE:ATI - Free Report) by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,362 shares of the basic materials company's stock after acquiring an additional 13,100 shares during the period. PDT Partners LLC owned about 0.07% of ATI worth $5,118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WPG Advisers LLC bought a new stake in shares of ATI in the 1st quarter valued at about $29,000. Golden State Wealth Management LLC lifted its holdings in ATI by 104.1% in the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock worth $31,000 after buying an additional 304 shares during the period. Bessemer Group Inc. lifted its holdings in ATI by 139.9% in the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock worth $34,000 after buying an additional 386 shares during the period. Olde Wealth Management LLC purchased a new stake in ATI in the 1st quarter worth approximately $36,000. Finally, Headlands Technologies LLC purchased a new stake in ATI in the 1st quarter worth approximately $47,000.

ATI Stock Up 0.4%

Shares of NYSE:ATI traded up $0.32 during trading on Friday, hitting $77.48. The stock had a trading volume of 1,820,755 shares, compared to its average volume of 1,693,288. The company has a quick ratio of 1.20, a current ratio of 2.52 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $10.68 billion, a PE ratio of 26.90, a PEG ratio of 1.05 and a beta of 1.27. The firm's fifty day moving average is $82.09 and its 200 day moving average is $69.92. ATI Inc. has a 12 month low of $39.23 and a 12 month high of $96.20.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.15 billion. ATI had a return on equity of 21.34% and a net margin of 9.26%.The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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 anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insider Activity at ATI

In related news, Director David J. Morehouse sold 7,900 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.81, for a total value 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $74.66, for a total value 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. The trade was a 14.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,900 shares of company stock worth $8,528,399 in the last 90 days. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Susquehanna dropped their price objective on ATI from $105.00 to $100.00 and set a "positive" rating for the company in a report on Friday, August 1st. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on ATI and gave the stock a "hold" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. increased their price objective on ATI from $75.00 to $92.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Zacks Research upgraded ATI to a "hold" rating in a report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average 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.