XTX Topco Ltd Invests $2.26 Million in ATI Inc. (NYSE:ATI)

Key Points

• XTX Topco Ltd has acquired a new stake in ATI Inc., purchasing 43,443 shares valued at approximately $2.26 million.
• Several institutional investors, including Capital International Investors and Dendur Capital LP, significantly increased their holdings in ATI during the fourth quarter, indicating growing confidence in the company.
• Chairman Robert S. Wetherbee sold 50,000 shares of ATI for a total of $4.2 million, representing a 12.30% decrease in his ownership.

XTX Topco Ltd bought a new position in ATI Inc. (NYSE:ATI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 43,443 shares of the basic materials company's stock, valued at approximately $2,260,000.

Other large investors also recently bought and sold shares of the company. Keystone Financial Group boosted its position in ATI by 5.3% during the fourth quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company's stock worth $217,000 after purchasing an additional 200 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of ATI by 1.6% in the first quarter. Nisa Investment Advisors LLC now owns 17,261 shares of the basic materials company's stock valued at $898,000 after purchasing an additional 265 shares during the last quarter. Golden State Wealth Management LLC increased its holdings 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 purchasing an additional 304 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in ATI by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 54,250 shares of the basic materials company's stock worth $2,986,000 after acquiring an additional 340 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in ATI by 139.9% during the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock worth $34,000 after acquiring an additional 386 shares during the last quarter.

ATI Trading Up 0.2%

Shares of ATI stock traded up $0.13 on Monday, reaching $76.85. 901,022 shares of the stock were exchanged, compared to its average volume of 2,069,736. The stock has a market cap of $10.84 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.02 and a beta of 1.20. The company has a quick ratio of 1.20, a current ratio of 2.52 and a debt-to-equity ratio of 0.92. The firm has a 50 day moving average of $85.97 and a two-hundred day moving average of $67.46. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $96.20.

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 analysts' consensus estimates of $0.72 by $0.02. ATI had a return on equity of 21.34% and a net margin of 9.26%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm posted $0.60 EPS. The business's revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the company's 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 completion of the transaction, the chairman directly owned 356,538 shares of the company's stock, valued at $29,924,234.34. This represents a 12.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 195,359 shares of company stock valued at $15,103,486. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ATI. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Citigroup upgraded ATI to a "positive" rating in a research report on Tuesday, May 20th. Barclays lifted their target price on ATI from $75.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday. JPMorgan Chase & Co. boosted their price target on ATI from $75.00 to $92.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 target price on ATI and gave the stock a "hold" rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $91.14.

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.