ATI Inc. (NYSE:ATI) Sees Large Decline in Short Interest

ATI Inc. (NYSE:ATI) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 2,230,362 shares, a decline of 28.7% from the December 15th total of 3,130,130 shares. Based on an average daily volume of 1,180,024 shares, the short-interest ratio is currently 1.9 days. Approximately 1.7% of the company’s shares are short sold. Approximately 1.7% of the company’s shares are short sold. Based on an average daily volume of 1,180,024 shares, the short-interest ratio is currently 1.9 days.

Insiders Place Their Bets

In related news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $93.26, for a total value of $242,289.48. Following the transaction, the senior vice president owned 21,274 shares in the company, valued at $1,984,013.24. This trade represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Robert S. Wetherbee sold 60,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $98.34, for a total value of $5,900,400.00. Following the transaction, the chairman owned 246,538 shares of the company’s stock, valued at $24,244,546.92. The trade was a 19.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 158,630 shares of company stock valued at $16,144,855. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ATI

A number of institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in ATI in the 2nd quarter valued at about $146,726,000. Capital World Investors boosted its stake in shares of ATI by 15.8% in the third quarter. Capital World Investors now owns 7,900,572 shares of the basic materials company’s stock valued at $642,633,000 after buying an additional 1,080,201 shares during the period. Holocene Advisors LP grew its position in ATI by 153.7% during the third quarter. Holocene Advisors LP now owns 1,534,114 shares of the basic materials company’s stock worth $124,785,000 after buying an additional 929,333 shares in the last quarter. BNP Paribas Financial Markets grew its position in ATI by 552.7% during the second quarter. BNP Paribas Financial Markets now owns 720,224 shares of the basic materials company’s stock worth $62,184,000 after buying an additional 609,874 shares in the last quarter. Finally, Capital International Investors increased its stake in ATI by 2.6% during the 3rd quarter. Capital International Investors now owns 17,147,559 shares of the basic materials company’s stock worth $1,394,349,000 after acquiring an additional 436,131 shares during the period.

ATI Stock Down 0.9%

Shares of ATI stock traded down $1.08 on Friday, reaching $124.31. 1,163,511 shares of the company were exchanged, compared to its average volume of 1,147,789. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of 40.23, a PEG ratio of 1.19 and a beta of 1.02. The company has a current ratio of 2.50, a quick ratio of 1.18 and a debt-to-equity ratio of 0.94. ATI has a one year low of $39.23 and a one year high of $127.11. The company has a 50-day moving average of $108.66 and a 200 day moving average of $92.16.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ATI. KeyCorp lifted their price target on shares of ATI from $120.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday. Alembic Global Advisors started coverage on shares of ATI in a research note on Thursday. They issued an “overweight” rating and a $141.00 target price for the company. BTIG Research reiterated a “buy” rating and set a $120.00 target price on shares of ATI in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft set a $98.00 price target on ATI in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price objective on ATI from $118.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $117.75.

About ATI

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.