On September 8, 2023, financial services firm Neuberger Berman Group LLC has disclosed a decrease of 7.0% in its holdings of ATI Inc. (NYSE:ATI) during the first quarter, as reported to the Securities and Exchange Commission (SEC). The firm now owns 1,061,412 shares of the basic materials company’s stock after selling 79,837 shares in that period. At the end of the most recent quarter, Neuberger Berman Group LLC had ownership of approximately 0.83% of ATI, which corresponds to a value of $41,883,000.
The latest quarterly earnings data from ATI was released on August 2nd. The company reported earnings per share (EPS) of $0.59 for the quarter, surpassing analysts’ consensus estimate by $0.04 with a positive outcome. Additionally, ATI demonstrated a return on equity of 26.99% and a net margin of 6.88%. Its revenue for the quarter amounted to $1.05 billion, aligned with market expectations.
Recently published reports on ATI by various analysts provide insights into market sentiment towards the company. On July 20th, Northcoast Research initiated coverage on ATI and issued a “buy” rating along with a price objective set at $54.00 per share. StockNews.com also assumed coverage on August 17th and provided a “hold” rating for the stock.
KeyCorp raised their price target on August 7th from $47.00 to $49.00 and gave ATI an “overweight” rating as part of their research report strategy. Likewise, Barclays increased their price objective from $42.00 to $51.00 and assigned an “overweight” rating to ATI in another research report published on August 8th.
With one analyst issuing a hold rating and six analysts recommending buying shares in ATI, the stock holds an average rating of “Moderate Buy,” according to Bloomberg.com. The current average target price for ATI stands at $49.33, indicating a positive outlook by the analysts.
Overall, ATI’s quarterly earnings report exceeded expectations and garnered favorable ratings from multiple analysts. Neuberger Berman Group LLC’s reduced holdings reflect a strategic decision in their financial portfolio management. As ATI continues on its fiscal year, investors and industry professionals will keep a close eye on any further developments that could influence its performance and stock value in the market.
ATI Inc.
ATI
Strong Buy
Updated on: 03/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Recent Hedge Fund Activity and Insider Selling in ATI Inc.: Insights into Stakeholding and Financial Transactions
As of September 8, 2023, several hedge funds have made notable changes to their stakes in the business of ATI Inc. The addition or reduction of these stakes reflects the ongoing interests and evaluations of these financial entities. Edmond DE Rothschild Holding S.A., for instance, has recently acquired a new position in ATI during the first quarter with a value of $37,000. Similarly, OLD Mission Capital LLC expanded its stake in ATI during the fourth quarter, making an investment worth $56,000. Point72 Middle East FZE also joined in during the same period by acquiring a new position in ATI valued at $75,000. Another participant, Archer Investment Corp, entered the scene during the first quarter with an investment worth $98,000. Lastly, Tower Research Capital LLC TRC significantly increased its stake in ATI by 322.5% during the first quarter through purchasing an additional 2,435 shares. As a result, Tower Research Capital LLC TRC now owns 3,190 shares of ATI’s stock with an estimated worth of $126,000.
In other news related to ATI Inc., insider Elliot S. Davis recently sold 7,039 shares of ATI stock on Thursday, June 29th. The average price per share for this transaction amounted to $42.50 resulting in a total value of $299,157.50. Following this sale, Elliot S. Davis now directly owns 141,627 shares of ATI’s company stock valued at approximately $6,019,147.50.
Additionally,Vice President Timothy J.Harris made his own contribution to these developments by selling 12,858 shares of ATI’s stock on Thursday,August10th.Harris sold these shares at an average price point of$43 .57,resultinginan overall revenueof$560 ,223 .06.Following this sale,the Vice President reportedly holds76 ,992sharesof the company’s stock worth a total value ofapproximately $3,354,541.44.
It is important to note that insiders have collectively sold 33,975 shares of ATI company stock during the past ninety days which roughly totals up to $1,457 ,696 . Insiders currently retain 0.71% ownership of ATI Inc.’s stock.
As for recent market performance, ATI’s stock opened at a valuation of $44.90 on Friday. The company exhibits a debt-to-equity ratio of 1.30, a current ratio of 2.74, and a quick ratio of 1.20.The range of ATI’s stock price over the past year spans from its lowest point at $25.39 to its highest peak at $47.92.Additionally, the business holds an approximate market capitalization of $5.77 billion with a price-to-earnings (P/E) ratio reaching 23.02 and a beta value of 1.26 further indicating its sensitivity to overall market fluctuations.Arelevant assessment can alsobemadeofthebusiness’performanceinrecent timesas ATInshowcasesa50-daymovingaveragepriceof$44 .91and awaitsapricepointofits200-daymovingaverageatthemarketvalueof$40 .77.
These intricate details pertaining to ATI Inc.’s stakeholding and financial transactions provide valuable insights into the current state and trajectory of this particular business within the basic materials sector.
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