Brevan Howard Capital Management LP Has $3.15 Million Stake in ATI Inc. (NYSE:ATI)

Brevan Howard Capital Management LP increased its position in ATI Inc. (NYSE:ATI - Free Report) by 26.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 57,226 shares of the basic materials company's stock after purchasing an additional 11,907 shares during the period. Brevan Howard Capital Management LP's holdings in ATI were worth $3,150,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capstone Investment Advisors LLC acquired a new stake in shares of ATI during the 4th quarter valued at $5,944,000. BW Gestao de Investimentos Ltda. acquired a new stake in shares of ATI in the fourth quarter worth $2,312,000. Ameriprise Financial Inc. boosted its holdings in ATI by 0.4% during the fourth quarter. Ameriprise Financial Inc. now owns 3,155,477 shares of the basic materials company's stock valued at $173,677,000 after acquiring an additional 12,528 shares during the period. Algert Global LLC grew its stake in shares of ATI by 79.4% in the fourth quarter. Algert Global LLC now owns 130,305 shares of the basic materials company's stock worth $7,172,000 after acquiring an additional 57,673 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in ATI by 111.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,523 shares of the basic materials company's stock worth $469,000 after buying an additional 4,490 shares in the last quarter.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total value of $3,409,000.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of ATI from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Benchmark reaffirmed a "buy" rating and issued a $81.00 target price on shares of ATI in a research note on Monday, April 21st. BTIG Research set a $90.00 target price on ATI and gave the company a "buy" rating in a research note on Monday, May 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, April 23rd. Finally, Barclays lifted their target price on ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, ATI presently has an average rating of "Moderate Buy" and a consensus target price of $76.14.

ATI Stock Performance

ATI stock traded up $0.40 during mid-day trading on Friday, hitting $71.46. 1,920,363 shares of the company's stock traded hands, compared to its average volume of 1,730,616. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $72.33. The firm has a 50 day simple moving average of $52.71 and a two-hundred day simple moving average of $56.07. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 0.85 and a beta of 1.01.

ATI (NYSE:ATI - Get Free Report) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business's revenue was up 9.7% compared to the same quarter last year. On average, research analysts expect that ATI Inc. will post 2.89 EPS for the current fiscal year.

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.