ATI Inc. (NYSE:ATI) Shares Purchased by Edgestream Partners L.P.

Nov 17, 2023

Edgestream Partners L.P. boosted its stake in ATI Inc. (NYSE:ATI - Get Rating) by 34.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 211,431 shares of the basic materials company's stock after purchasing an additional 53,959 shares during the period. ATI comprises approximately 0.7% of Edgestream Partners L.P.'s portfolio, making the stock its 17th largest position. Edgestream Partners L.P. owned 0.16% of ATI worth $6,313,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of ATI by 14.8% in the first quarter. State Street Corp now owns 9,941,032 shares of the basic materials company's stock worth $266,817,000 after acquiring an additional 1,279,827 shares in the last quarter. Invesco Ltd. grew its stake in shares of ATI by 105.4% in the first quarter. Invesco Ltd. now owns 1,181,206 shares of the basic materials company's stock worth $31,703,000 after acquiring an additional 606,005 shares in the last quarter. Balyasny Asset Management LLC grew its stake in shares of ATI by 3,539.9% in the third quarter. Balyasny Asset Management LLC now owns 619,116 shares of the basic materials company's stock worth $16,475,000 after acquiring an additional 602,107 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of ATI by 3.8% in the third quarter. Vanguard Group Inc. now owns 14,354,401 shares of the basic materials company's stock worth $381,970,000 after acquiring an additional 527,117 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of ATI in the first quarter worth $12,302,000.

Shares of NYSE:ATI traded up $2.28 on Friday, reaching $38.57. The company's stock had a trading volume of 617,451 shares, compared to its average volume of 1,289,883. The stock's 50-day moving average is $37.45 and its two-hundred day moving average is $35.62. ATI Inc. has a 52-week low of $20.51 and a 52-week high of $43.32. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.81 and a quick ratio of 1.24. The stock has a market capitalization of $4.96 billion, a P/E ratio of 32.40 and a beta of 1.19.

ATI (NYSE:ATI - Get Rating) last announced its earnings results on Thursday, May 4th. The basic materials company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. ATI had a net margin of 4.21% and a return on equity of 28.75%. The business's revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 earnings per share. As a group, sell-side analysts forecast that ATI Inc. will post 2.24 EPS for the current year.

ATI has been the subject of several research reports. KeyCorp boosted their price target on shares of ATI from $45.00 to $47.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 7th. Barclays boosted their target price on shares of ATI from $33.00 to $42.00 in a research note on Tuesday, May 9th. Benchmark boosted their target price on shares of ATI from $37.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, February 3rd. StockNews.com initiated coverage on shares of ATI in a research report on Thursday, May 18th. They issued a "hold" rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of ATI from $45.00 to $50.00 in a research report on Monday, May 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $44.00.

ATI, Inc engages in the manufacture of specialty materials and components. It operates through the High Performance Materials and Components (HPMC) and Advanced Alloys & Solutions (AA&S) segments. The HPMC segment consists of the production of materials, parts, and components for aerospace and defense, medical, and energy markets.

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