Assenagon Asset Management S.A. Purchases 53,120 Shares of ATI Inc. $ATI

Assenagon Asset Management S.A. grew its holdings in ATI Inc. (NYSE:ATI) by 366.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,633 shares of the basic materials company’s stock after purchasing an additional 53,120 shares during the quarter. Assenagon Asset Management S.A.’s holdings in ATI were worth $5,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in ATI in the second quarter worth $146,726,000. BNP Paribas Financial Markets grew its stake in ATI by 552.7% in the second quarter. BNP Paribas Financial Markets now owns 720,224 shares of the basic materials company’s stock valued at $62,184,000 after acquiring an additional 609,874 shares during the period. Holocene Advisors LP acquired a new position in shares of ATI during the second quarter worth approximately $52,217,000. Trexquant Investment LP bought a new stake in ATI during the 1st quarter valued at $21,807,000. Finally, Northern Trust Corp lifted its stake in shares of ATI by 33.4% in the first quarter. Northern Trust Corp now owns 1,262,761 shares of the basic materials company’s stock valued at $65,701,000 after buying an additional 316,090 shares in the last quarter.

Insiders Place Their Bets

In other ATI news, VP Timothy J. Harris sold 10,542 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $97.88, for a total value of $1,031,850.96. Following the completion of the transaction, the vice president owned 98,310 shares of the company’s stock, valued at $9,622,582.80. The trade was a 9.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kimberly A. Fields sold 21,153 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $85.87, for a total transaction of $1,816,408.11. Following the sale, the chief executive officer owned 202,668 shares in the company, valued at approximately $17,403,101.16. This trade represents a 9.45% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 200,937 shares of company stock worth $19,696,526. Insiders own 1.10% of the company’s stock.

ATI Stock Performance

NYSE ATI opened at $113.26 on Monday. The company’s 50 day simple moving average is $97.28 and its two-hundred day simple moving average is $87.25. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.50 and a quick ratio of 1.18. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $113.57. The stock has a market capitalization of $15.39 billion, a PE ratio of 36.65, a P/E/G ratio of 1.44 and a beta of 1.08.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. ATI had a net margin of 9.71% and a return on equity of 23.34%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. ATI has set its FY 2025 guidance at 3.150-3.21 EPS and its Q4 2025 guidance at 0.840-0.90 EPS. Analysts predict that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ATI shares. JPMorgan Chase & Co. upped their target price on shares of ATI from $118.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday. BTIG Research reissued a “buy” rating and issued a $120.00 price target on shares of ATI in a report on Wednesday, October 29th. Susquehanna raised their price target on shares of ATI from $100.00 to $120.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ATI in a research report on Monday, December 15th. Finally, KeyCorp upgraded ATI from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research note on Thursday, November 13th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, ATI has an average rating of “Moderate Buy” and a consensus target price of $109.14.

ATI Profile

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.