Comerica Bank Acquires 61,652 Shares of ATI Inc. (NYSE:ATI)

Comerica Bank lifted its stake in ATI Inc. (NYSE:ATI - Free Report) by 49.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 186,749 shares of the basic materials company's stock after purchasing an additional 61,652 shares during the period. Comerica Bank owned 0.13% of ATI worth $10,279,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. grew its position in shares of ATI by 16.2% during the 3rd 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 period. Lord Abbett & CO. LLC acquired a new position in ATI during the third quarter valued at approximately $3,088,000. ORG Wealth Partners LLC bought a new stake in ATI in the fourth quarter valued at approximately $25,000. Fragasso Financial Advisors Inc acquired a new stake in ATI in the fourth quarter worth $403,000. Finally, Wedmont Private Capital boosted its position in shares of ATI by 33.7% during the fourth quarter. Wedmont Private Capital now owns 4,838 shares of the basic materials company's stock worth $267,000 after purchasing an additional 1,220 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. 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. Susquehanna lifted their price objective on ATI from $70.00 to $73.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. Benchmark reissued a "buy" rating and set a $81.00 target price on shares of ATI in a research note on Monday, April 21st. KeyCorp raised shares of ATI from a "sector weight" rating to an "overweight" rating and set a $55.00 price target on the stock in a research note on Wednesday, April 23rd. Finally, StockNews.com raised shares of ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, ATI presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.29.

Insider Activity at ATI

In other news, SVP Tina Killough Busch sold 9,900 shares of the company's 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 sale, the senior vice president now owns 25,994 shares in the company, valued at $1,726,261.54. This represents a 27.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.10% of the company's stock.

ATI Price Performance

NYSE ATI opened at $66.69 on Friday. The firm's 50 day moving average is $51.46 and its 200-day moving average is $55.89. 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 capitalization of $9.41 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 0.85 and a beta of 0.80. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $68.92.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $0.48 EPS. The company's revenue was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that ATI Inc. will post 2.89 earnings per share 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.

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