Headlands Technologies LLC Buys New Shares in ATI Inc. (NYSE:ATI)

Headlands Technologies LLC bought a new stake in ATI Inc. (NYSE:ATI) in the first quarter, HoldingsChannel reports. The fund bought 896 shares of the basic materials company’s stock, valued at approximately $47,000.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in 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 in the last quarter. Bessemer Group Inc. lifted its stake in ATI by 139.9% in the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 386 shares during the last quarter. Olde Wealth Management LLC acquired a new stake in ATI in the first quarter valued at $36,000. Fifth Third Bancorp lifted its stake in ATI by 115.7% in the first quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 603 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in ATI by 418.1% in the first quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 1,062 shares during the last quarter.

ATI Stock Performance

NYSE ATI opened at $75.55 on Wednesday. The firm has a 50-day moving average of $85.23 and a 200-day moving average of $68.19. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.20 and a current ratio of 2.52. The stock has a market cap of $10.41 billion, a PE ratio of 26.23, a P/E/G ratio of 0.99 and a beta of 1.20. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $96.20.

ATI (NYSE:ATI) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. ATI had a net margin of 9.26% and a return on equity of 21.34%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $0.60 EPS. The business’s revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.

Insider Activity

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total value of $3,733,000.00. Following the completion of the sale, the chairman owned 306,538 shares in the company, valued at $22,886,127.08. The trade was a 14.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David J. Morehouse sold 7,900 shares of ATI stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $75.81, for a total transaction of $598,899.00. Following the completion of the sale, the director owned 44,777 shares of the company’s stock, valued at $3,394,544.37. This trade represents a 15.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 203,259 shares of company stock valued at $16,026,385 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on ATI shares. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, May 20th. Benchmark reiterated a “buy” rating and issued a $81.00 price target on shares of ATI in a research note on Monday, April 21st. Susquehanna cut their price target on shares of ATI from $105.00 to $100.00 and set a “positive” rating for the company in a research note on Friday, August 1st. Citigroup upgraded shares of ATI to a “positive” rating in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of ATI from $75.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.29.

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.