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Aug 17, 2023

Oppenheimer & Co. Inc. Purchases New Position in ATI Inc. (NYSE:ATI)

Oppenheimer & Co. Inc. purchased a new stake in ATI Inc. (NYSE:ATI - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 17,550

Oppenheimer & Co. Inc. purchased a new stake in ATI Inc. (NYSE:ATI - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 17,550 shares of the basic materials company's stock, valued at approximately $693,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of ATI during the fourth quarter valued at about $50,336,000. State Street Corp lifted its holdings in 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 during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in ATI by 21,179.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 895,224 shares of the basic materials company's stock worth $35,326,000 after acquiring an additional 891,017 shares during the last quarter. Invesco Ltd. lifted its holdings in 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 during the last quarter. Finally, Balyasny Asset Management LLC lifted its holdings in 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 during the last quarter.

ATI has been the topic of a number of recent analyst reports. Barclays lifted their price target on ATI from $42.00 to $51.00 and gave the company an "overweight" rating in a report on Tuesday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of ATI from $45.00 to $50.00 in a research note on Monday, May 8th. StockNews.com started coverage on shares of ATI in a research note on Thursday, August 17th. They set a "hold" rating on the stock. KeyCorp raised their price objective on shares of ATI from $47.00 to $49.00 and gave the company an "overweight" rating in a research note on Monday, August 7th. Finally, Northcoast Research assumed coverage on shares of ATI in a research note on Thursday, July 20th. They set a "buy" rating and a $54.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $49.33.

Check Out Our Latest Report on ATI

In other ATI news, insider Elliot S. Davis sold 7,039 shares of ATI stock in a transaction on Monday, June 12th. The shares were sold at an average price of $40.00, for a total transaction of $281,560.00. Following the completion of the sale, the insider now owns 148,666 shares of the company's stock, valued at approximately $5,946,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Timothy J. Harris sold 12,858 shares of ATI stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $43.57, for a total value of $560,223.06. Following the completion of the sale, the vice president now owns 76,992 shares of the company's stock, valued at approximately $3,354,541.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Elliot S. Davis sold 7,039 shares of ATI stock in a transaction on Monday, June 12th. The shares were sold at an average price of $40.00, for a total transaction of $281,560.00. Following the completion of the sale, the insider now directly owns 148,666 shares of the company's stock, valued at approximately $5,946,640. The disclosure for this sale can be found here. Insiders sold 33,975 shares of company stock valued at $1,457,696 in the last quarter. Company insiders own 0.82% of the company's stock.

NYSE ATI opened at $43.74 on Monday. ATI Inc. has a twelve month low of $25.39 and a twelve month high of $47.92. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.20 and a current ratio of 2.74. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 22.43 and a beta of 1.25. The firm's 50 day moving average price is $44.11 and its two-hundred day moving average price is $40.43.

ATI (NYSE:ATI - Get Free Report) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.04. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. ATI had a net margin of 6.88% and a return on equity of 26.99%. Equities analysts anticipate that ATI Inc. will post 2.26 EPS for the current year.

ATI Inc manufactures and sells specialty materials and 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, 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.

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