Balyasny Asset Management L.P. Has $29.60 Million Holdings in ATI Inc. (NYSE:ATI)

Balyasny Asset Management L.P. decreased its holdings in shares of ATI Inc. (NYSE:ATI) by 40.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 537,700 shares of the basic materials company’s stock after selling 360,325 shares during the quarter. Balyasny Asset Management L.P.’s holdings in ATI were worth $29,595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in ATI by 14.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company’s stock worth $86,031,000 after purchasing an additional 191,823 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of ATI by 16.2% during the third quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock worth $27,993,000 after buying an additional 61,999 shares during the last quarter. Covea Finance grew its stake in shares of ATI by 32.7% during the fourth quarter. Covea Finance now owns 65,000 shares of the basic materials company’s stock worth $3,578,000 after buying an additional 16,000 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of ATI by 137.7% during the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock worth $144,000 after buying an additional 1,516 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of ATI in the 4th quarter valued at $618,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays boosted their price objective on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. KeyCorp raised ATI from a “sector weight” rating to an “overweight” rating and set a $55.00 price objective for the company in a research note on Wednesday, April 23rd. Benchmark reiterated a “buy” rating and set a $81.00 target price on shares of ATI in a research report on Monday, April 21st. BTIG Research set a $90.00 target price on shares of ATI and gave the stock a “buy” rating in a report on Monday. Finally, Susquehanna raised their price target on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $76.14.

Insider Buying and Selling at ATI

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the transaction, the senior vice president now directly owns 25,994 shares in the company, valued at approximately $1,726,261.54. This represents a 27.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

ATI Price Performance

ATI stock opened at $68.82 on Wednesday. The firm has a market cap of $9.71 billion, a P/E ratio of 26.99, a P/E/G ratio of 0.85 and a beta of 1.01. The stock’s 50 day moving average is $51.91 and its 200 day moving average is $55.91. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. ATI Inc. has a one year low of $39.23 and a one year high of $68.92.

ATI (NYSE:ATI) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. ATI had a net margin of 8.43% and a return on equity of 21.16%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $0.48 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts expect that ATI Inc. will post 2.89 EPS for the current year.

ATI 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.