Anomaly Capital Management LP Makes New $35 Million Investment in ATI Inc. (NYSE:ATI)

Anomaly Capital Management LP acquired a new stake in ATI Inc. (NYSE:ATI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 635,876 shares of the basic materials company's stock, valued at approximately $34,999,000. ATI accounts for 1.0% of Anomaly Capital Management LP's holdings, making the stock its 26th biggest holding. Anomaly Capital Management LP owned approximately 0.45% of ATI at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of ATI by 14.0% during the fourth 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. increased 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 acquiring an additional 61,999 shares during the period. Covea Finance boosted its stake in shares of ATI by 32.7% in the fourth quarter. Covea Finance now owns 65,000 shares of the basic materials company's stock valued at $3,578,000 after buying an additional 16,000 shares in the last quarter. Blue Trust Inc. boosted its position in shares of ATI by 137.7% during the 4th quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock worth $144,000 after purchasing an additional 1,516 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in ATI during the fourth quarter worth about $618,000.

ATI Stock Performance

ATI stock traded up $2.06 during trading hours on Thursday, hitting $52.47. The stock had a trading volume of 1,428,856 shares, compared to its average volume of 1,694,409. The company has a 50-day moving average of $51.70 and a two-hundred day moving average of $56.13. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The company has a market cap of $7.40 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 0.85 and a beta of 0.80. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $68.92.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.19. ATI had a net margin of 8.43% and a return on equity of 21.16%. The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The company's quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Susquehanna boosted their price objective on shares of ATI from $70.00 to $73.00 and gave the company a "positive" rating in a research report on Wednesday, February 5th. KeyCorp upgraded shares of 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. StockNews.com raised shares of ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. Barclays increased their target price on ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Finally, Benchmark reissued a "buy" rating and issued a $81.00 price objective on shares of ATI in a report on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.29.

Insider Activity

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the transaction, the senior vice president now directly owns 25,994 shares in the company, valued at $1,726,261.54. The trade was a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

About ATI

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.