Point72 Asset Management L.P. Acquires 226,138 Shares of ATI Inc. (NYSE:ATI)

Point72 Asset Management L.P. boosted its position in ATI Inc. (NYSE:ATI - Free Report) by 39.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 797,814 shares of the basic materials company's stock after purchasing an additional 226,138 shares during the period. Point72 Asset Management L.P. owned approximately 0.56% of ATI worth $43,912,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital raised its stake in shares of ATI by 33.7% in the 4th quarter. Wedmont Private Capital now owns 4,838 shares of the basic materials company's stock worth $267,000 after buying an additional 1,220 shares in the last quarter. Oak Thistle LLC bought a new stake in ATI in the fourth quarter worth about $279,000. Artemis Investment Management LLP acquired a new stake in ATI in the 4th quarter valued at about $8,103,000. SG Americas Securities LLC bought a new position in shares of ATI during the 4th quarter valued at about $249,000. Finally, Inspire Investing LLC boosted its position in shares of ATI by 17.3% during the 4th quarter. Inspire Investing LLC now owns 7,265 shares of the basic materials company's stock valued at $400,000 after purchasing an additional 1,070 shares in the last quarter.

ATI Stock Up 0.3%

Shares of ATI stock traded up $0.26 during midday trading on Monday, hitting $76.54. The company's stock had a trading volume of 1,263,080 shares, compared to its average volume of 1,741,300. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $76.75. 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 firm has a market capitalization of $10.80 billion, a P/E ratio of 30.02, a PEG ratio of 0.85 and a beta of 1.01. The stock has a 50-day simple moving average of $54.70 and a 200-day simple moving average of $56.62.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company posted $0.48 EPS. The business's quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts expect that ATI Inc. will post 2.89 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the sale, the chairman now directly owns 506,538 shares in the company, valued at approximately $34,535,760.84. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ATI. BTIG Research set a $90.00 target price on shares of ATI and gave the company a "buy" rating in a research note on Monday, May 5th. StockNews.com raised ATI from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Barclays raised their price objective on ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Benchmark reaffirmed a "buy" rating and set a $81.00 target price on shares of ATI in a research report on Monday, April 21st. Finally, Susquehanna increased their price target on ATI from $70.00 to $73.00 and gave the company a "positive" rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, ATI currently has a consensus rating of "Moderate Buy" and an average price target of $76.14.

ATI Company 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.