Hudson Bay Capital Management LP Acquires New Position in ATI Inc. (NYSE:ATI)

Hudson Bay Capital Management LP bought a new position in shares of ATI Inc. (NYSE:ATI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 201,613 shares of the basic materials company's stock, valued at approximately $11,097,000. Hudson Bay Capital Management LP owned 0.14% of ATI as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in shares of ATI in the 4th quarter worth about $94,000. EverSource Wealth Advisors LLC increased its stake in shares of ATI by 20.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company's stock valued at $95,000 after purchasing an additional 288 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of ATI by 236.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company's stock valued at $132,000 after buying an additional 1,690 shares during the last quarter. Blue Trust Inc. boosted its position in shares of ATI by 137.7% during the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock worth $144,000 after buying an additional 1,516 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in ATI by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company's stock worth $215,000 after buying an additional 192 shares in the last quarter.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the sale, the chairman now directly owns 506,538 shares of the company's stock, valued at $34,535,760.84. The trade was a 8.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

ATI Trading Down 0.1%

Shares of ATI stock traded down $0.09 on Thursday, reaching $74.98. 1,509,032 shares of the company were exchanged, compared to its average volume of 1,738,977. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $76.30. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 0.85 and a beta of 1.01. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average price of $53.74 and a 200-day moving average price of $56.37.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company earned $0.48 EPS. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts expect that ATI Inc. will post 2.89 EPS for the current year.

Analyst Upgrades and Downgrades

ATI has been the subject of a number of analyst reports. StockNews.com upgraded ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. Barclays lifted their price objective on shares of ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. KeyCorp upgraded shares of ATI from a "sector weight" rating to an "overweight" rating and set a $55.00 target price for the company in a research report on Wednesday, April 23rd. BTIG Research set a $90.00 price target on shares of ATI and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Susquehanna increased their price objective on shares of ATI from $70.00 to $73.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $76.14.

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.