Woodline Partners LP Lowers Stake in ATI Inc. $ATI

Key Points

• Woodline Partners LP reduced its stake in ATI Inc. by 4.8%, selling 47,525 shares and holding 944,216 shares, which is valued at $49.1 million as of the last quarter.
• ATI's recent quarterly earnings exceeded expectations, reporting earnings per share of $0.74, surpassing the consensus estimate of $0.72.
• Research analysts have set varying price targets for ATI, with Barclays raising theirs from $75 to $90, while Deutsche Bank set a target of $115.

Woodline Partners LP cut its position in ATI Inc. (NYSE:ATI - Free Report) by 4.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 944,216 shares of the basic materials company's stock after selling 47,525 shares during the quarter. Woodline Partners LP owned approximately 0.67% of ATI worth $49,128,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its position in ATI by 3.3% during 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 period. Dimensional Fund Advisors LP lifted its position in ATI by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,617,314 shares of the basic materials company's stock worth $136,164,000 after acquiring an additional 59,811 shares during the period. American Century Companies Inc. lifted its position in ATI by 4.5% during the 1st quarter. American Century Companies Inc. now owns 1,422,116 shares of the basic materials company's stock worth $73,993,000 after acquiring an additional 60,651 shares during the period. Bowen Hanes & Co. Inc. lifted its position in ATI by 0.3% during the 1st quarter. Bowen Hanes & Co. Inc. now owns 1,371,335 shares of the basic materials company's stock worth $71,351,000 after acquiring an additional 4,420 shares during the period. Finally, Northern Trust Corp lifted its position in ATI by 33.4% during the 1st quarter. Northern Trust Corp now owns 1,262,761 shares of the basic materials company's stock worth $65,701,000 after acquiring an additional 316,090 shares during the period.

Analysts Set New Price Targets

ATI has been the subject of a number of recent research reports. 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. Zacks Research raised ATI to a "hold" rating in a report on Tuesday, August 12th. Citigroup raised ATI to a "positive" rating in a report on Tuesday, May 20th. BTIG Research reissued a "buy" rating and issued a $120.00 price target on shares of ATI in a report on Friday. Finally, JPMorgan Chase & Co. raised their price target on ATI from $75.00 to $92.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, ATI presently has an average rating of "Moderate Buy" and an average target price of $93.29.

ATI Price Performance

NYSE ATI traded up $0.35 during mid-day trading on Friday, hitting $76.33. The stock had a trading volume of 1,374,474 shares, compared to its average volume of 1,645,027. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $96.20. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 1.04 and a beta of 1.27. The company has a 50 day simple moving average of $81.12 and a 200 day simple moving average of $70.62. 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 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. ATI had a return on equity of 21.34% and a net margin of 9.26%.The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $0.60 EPS. ATI's quarterly revenue was up 4.1% on a year-over-year basis. ATI has set its FY 2025 guidance at 2.900-3.07 EPS. Q3 2025 guidance at 0.690-0.75 EPS. Equities analysts forecast that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other ATI news, CEO Kimberly A. Fields sold 15,941 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $77.52, for a total transaction of $1,235,746.32. Following the completion of the transaction, the chief executive officer owned 265,287 shares of the company's stock, valued at approximately $20,565,048.24. This trade represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David J. Morehouse sold 7,900 shares of the firm's stock in a transaction 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 transaction, the director directly owned 44,777 shares of the company's stock, valued at $3,394,544.37. The trade was a 15.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,841 shares of company stock valued at $5,567,645. Corporate insiders own 1.10% of the company's stock.

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.