Nov 08, 2023
Lisanti Capital Growth LLC Acquires New Position in ATI Inc. (NYSE:ATI)
Lisanti Capital Growth LLC acquired a new stake in shares of ATI Inc. (NYSE:ATI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission
Lisanti Capital Growth LLC acquired a new stake in shares of ATI Inc. (NYSE:ATI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 193,005 shares of the basic materials company's stock, valued at approximately $7,616,000. Lisanti Capital Growth LLC owned approximately 0.15% of ATI at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of ATI. Norges Bank acquired a new stake in ATI during the 4th quarter worth approximately $50,336,000. State Street Corp increased its stake in shares of ATI by 14.8% in the 1st quarter. State Street Corp now owns 9,941,032 shares of the basic materials company's stock valued at $266,817,000 after acquiring an additional 1,279,827 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of ATI by 21,179.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 895,224 shares of the basic materials company's stock valued at $35,326,000 after acquiring an additional 891,017 shares in the last quarter. Invesco Ltd. increased its stake in ATI by 105.4% during the 1st quarter. Invesco Ltd. now owns 1,181,206 shares of the basic materials company's stock valued at $31,703,000 after purchasing an additional 606,005 shares in the last quarter. Finally, Balyasny Asset Management LLC increased its stake in ATI by 3,539.9% during the 3rd quarter. Balyasny Asset Management LLC now owns 619,116 shares of the basic materials company's stock valued at $16,475,000 after purchasing an additional 602,107 shares in the last quarter.
Shares of NYSE:ATI traded down $0.52 on Friday, hitting $43.64. 1,070,789 shares of the company traded hands, compared to its average volume of 1,256,170. ATI Inc. has a 52 week low of $25.39 and a 52 week high of $47.92. The company has a quick ratio of 1.24, a current ratio of 2.81 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $42.22 and a 200-day simple moving average of $39.59. The company has a market cap of $5.61 billion, a PE ratio of 22.64 and a beta of 1.25.
ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results on Thursday, May 4th. The basic materials company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. ATI had a return on equity of 28.25% and a net margin of 6.88%. The firm's revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. As a group, research analysts expect that ATI Inc. will post 2.25 earnings per share for the current year.
In other ATI news, insider Elliot S. Davis sold 7,039 shares of the company's stock in a transaction on Monday, July 10th. The stock was sold at an average price of $45.00, for a total value of $316,755.00. Following the completion of the sale, the insider now directly owns 134,588 shares in the company, valued at approximately $6,056,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 21,117 shares of company stock valued at $897,473. 0.71% of the stock is currently owned by insiders.
Several analysts have recently issued reports on ATI shares. StockNews.com started coverage on shares of ATI in a research note on Thursday, May 18th. They issued a "hold" rating for the company. Northcoast Research assumed coverage on shares of ATI in a report on Thursday, July 20th. They issued a "buy" rating and a $54.00 price target on the stock. Barclays boosted their price target on shares of ATI from $33.00 to $42.00 in a report on Tuesday, May 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of ATI from $45.00 to $50.00 in a report on Monday, May 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, ATI has an average rating of "Moderate Buy" and a consensus price target of $45.43.
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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