ATI Inc. (NYSE:ATI) Shares Purchased by 1492 Capital Management LLC

1492 Capital Management LLC increased its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 104.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,032 shares of the basic materials company's stock after acquiring an additional 26,065 shares during the period. ATI comprises 1.4% of 1492 Capital Management LLC's holdings, making the stock its 24th largest position. 1492 Capital Management LLC's holdings in ATI were worth $2,655,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new position in ATI during the first quarter worth approximately $1,243,000. Bank of New York Mellon Corp increased its stake in ATI by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 902,200 shares of the basic materials company's stock worth $46,941,000 after acquiring an additional 11,048 shares during the last quarter. GAMMA Investing LLC increased its stake in ATI by 39.2% during the first quarter. GAMMA Investing LLC now owns 3,478 shares of the basic materials company's stock worth $181,000 after acquiring an additional 979 shares during the last quarter. KBC Group NV grew its stake in shares of ATI by 14.2% in the first quarter. KBC Group NV now owns 5,779 shares of the basic materials company's stock valued at $301,000 after buying an additional 720 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of ATI by 139.9% in the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after buying an additional 386 shares in the last quarter.

Insider Buying and Selling at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $83.93, for a total transaction of $4,196,500.00. Following the transaction, the chairman owned 356,538 shares in the company, valued at $29,924,234.34. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 195,359 shares of company stock worth $15,103,486 over the last quarter. Insiders own 1.10% of the company's stock.

ATI Stock Up 1.8%

NYSE:ATI traded up $1.72 during mid-day trading on Friday, reaching $94.99. The stock had a trading volume of 858,170 shares, compared to its average volume of 1,443,608. The company has a market capitalization of $13.40 billion, a price-to-earnings ratio of 34.42, a price-to-earnings-growth ratio of 1.25 and a beta of 1.13. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $95.17. The stock's 50 day simple moving average is $84.79 and its two-hundred day simple moving average is $66.22. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.53 and a quick ratio of 1.30.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. ATI had a return on equity of 21.37% and a net margin of 8.93%. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $0.48 earnings per share. Equities analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on ATI. Susquehanna lifted their price target on ATI from $73.00 to $105.00 and gave the stock a "positive" rating in a report on Monday, July 14th. Citigroup upgraded ATI to a "positive" rating in a research report on Tuesday, May 20th. BTIG Research set a $105.00 price target on ATI and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Benchmark reissued a "buy" rating and set a $81.00 price target on shares of ATI in a research note on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 target price on ATI and gave the company a "hold" rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $87.29.

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.