In the first quarter of 2023, investment management firm Rhumbline Advisers increased its holdings in ATI Inc. (NYSE:ATI) by 4.5%, according to its recent filing with the Securities & Exchange Commission (SEC). The company acquired an additional 16,841 shares of ATI, bringing its total holdings to 392,327 shares. As of the filing, Rhumbline Advisers owned 0.31% of ATI with a value of $15,481,000.
On August 2nd, ATI announced its earnings results for the quarter. The basic materials company reported earnings per share (EPS) of $0.59, surpassing the consensus estimate of $0.55 by $0.04. Additionally, ATI achieved a return on equity of 26.99% and had a net margin of 6.88%. The company’s revenue for the quarter was recorded at $1.05 billion, aligning closely with analyst estimates.
Financial analysts anticipate that ATI will post earnings per share of 2.26 for the current fiscal year.
In other news related to ATI Inc., insider Elliot S. Davis sold 7,039 shares of the company’s stock on June 12th in a transaction worth $281,560. After this transaction, Davis now holds around 148,666 shares valued at approximately $5,946,640.
Furthermore, another insider at ATI named Timothy J. Harris sold 12,858 shares on August 10th for an average price of $43.57 per share amounting to a total value of $560,223.06.
Overall insider activity within the last three months amounted to sales totaling approximately $1,457,696 and representing about 0.82% ownership stake within the company.
For more information regarding these transactions and details about insider disclosures at ATI Inc., please refer to filings with the SEC available through its official website.
ATI Inc.’s recent increase in holdings by Rhumbline Advisers, as well as the company’s positive earnings results, indicate confidence in ATI’s future prospects. Investors and market participants may continue to monitor ATI’s performance and analyze insider activity for further insights into the company’s growth potential.
ATI Inc.
ATI
Strong Buy
Updated on: 05/12/2023
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
Institutional Investors and Hedge Funds Make Significant Moves in ATI Inc. Shares
On September 1, 2023, a number of institutional investors and hedge funds made significant moves in buying and selling shares of ATI Inc. HighTower Advisors LLC purchased a new stake in the company valued at $263,000 during the first quarter. Similarly, Natixis Advisors L.P. also bought a new stake in ATI worth $570,000 during the same period.
MetLife Investment Management LLC made headlines by increasing its position in ATI by an impressive 70.4% during the first quarter. This move resulted in MetLife owning 68,697 shares of ATI’s stock with a value of $1,844,000 after purchasing an additional 28,376 shares. Great West Life Assurance Co. Can also raised its position in ATI by 1.4% during the first quarter and now owns 110,936 shares valued at $3,056,000 after buying an additional 1,480 shares.
Yousif Capital Management LLC joined the list of investors who increased their stake in ATI during the first quarter. They raised their position in the company by 2.0%, adding an additional 2,312 shares to bring their total to 117,029 shares valued at $3,141,000.
The trading day on Friday saw NYSE:ATI opening at $45.33 per share. The business’s progress can be seen through its 50-day moving average of $44.36 and its 200-day moving average of $40.56. Notably, over the past year, ATI has experienced a low point of $25.39 and a high point of $47.92.
With a market capitalization standing at $5.83 billion and a P/E ratio of 23.25 along with a beta value of 1.25 as per available information from Bloomberg; analyzing ATI’s performance becomes essential for potential investors interested to develop outlooks on the stock. The company’s debt-to-equity ratio is 1.30, current ratio stands at 2.74 and quick ratio at 1.20 showcasing its financial health.
ATI has garnered the attention of several research analysts who have provided their insights into the company’s potential performance. In one such report, KeyCorp raised its target price for ATI from $47.00 to $49.00 and gave it an “overweight” rating on August 7th, 2023. JPMorgan Chase & Co., too, increased its price target from $45.00 to $50.00 in a research report on May 8th, 2023.
Other research analysts have also shared their evaluations of ATI Inc. StockNews.com recently initiated coverage on ATI with a “hold” rating on August 17th, 2023. Similarly, Northcoast Research issued a “buy” rating along with a price target of $54.00 for the company on July 20th, 2023. Barclays joined in by elevating their price target from $42.00 to $51.00 and implementing an “overweight” rating in their research report on August 8th, 2023.
Overall, Bloomberg reports that ATI currently holds an average rating of “Moderate Buy” among analysts and an average target price of $49.33 based on available data.
In conclusion, recent activity from institutional investors and hedge funds in buying and selling shares of ATI has been noteworthy during the first quarter of this year. Furthermore, ATI’s trading performance shows promise as it continues to draw attention from various research analyst reports with optimistic outlooks for potential investors interested in the stock market landscape at present.
Reference Date: September 1, 2023
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