Ethic Inc. Has $1.99 Million Stock Position in ATI Inc. (NYSE:ATI)

Ethic Inc. raised its holdings in ATI Inc. (NYSE:ATI - Free Report) by 72.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,212 shares of the basic materials company's stock after acquiring an additional 15,168 shares during the quarter. Ethic Inc.'s holdings in ATI were worth $1,993,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ATI. Fragasso Financial Advisors Inc bought a new position in shares of ATI in the 4th quarter valued at approximately $403,000. Wedmont Private Capital grew its holdings in ATI by 33.7% during the fourth quarter. Wedmont Private Capital now owns 4,838 shares of the basic materials company's stock valued at $267,000 after purchasing an additional 1,220 shares during the last quarter. Oak Thistle LLC acquired a new position in ATI during the fourth quarter valued at approximately $279,000. Covea Finance raised its position 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 purchasing an additional 16,000 shares during the period. Finally, Artemis Investment Management LLP acquired a new stake in shares of ATI in the fourth quarter worth $8,103,000.

ATI Stock Performance

Shares of ATI stock traded up $1.25 during mid-day trading on Friday, reaching $76.27. The stock had a trading volume of 1,431,191 shares, compared to its average volume of 1,739,585. ATI Inc. has a one year low of $39.23 and a one year high of $76.31. The firm has a market cap of $10.76 billion, a PE ratio of 29.91, a P/E/G ratio of 0.85 and a beta of 1.01. The firm's 50 day simple moving average is $54.22 and its 200 day simple moving average is $56.45. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88.

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

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $34,535,760.84. This represents a 8.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Susquehanna raised their target price on shares of ATI from $70.00 to $73.00 and gave the company a "positive" rating in a research note on Wednesday, February 5th. KeyCorp raised ATI from a "sector weight" rating to an "overweight" rating and set a $55.00 price target on the stock in a research report on Wednesday, April 23rd. StockNews.com upgraded ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Barclays boosted their price objective on ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Finally, BTIG Research set a $90.00 target price on ATI and gave the company a "buy" rating in a report on Monday, May 5th. One 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $76.14.

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.