ATI Inc. (NYSE:ATI) Shares Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its stake in ATI Inc. by 24.2% during the first quarter, holding approximately $5.48 million in shares after purchasing an additional 20,567 shares.
• Multiple institutional investors, including Golden State Wealth Management and Bessemer Group, significantly increased their holdings in ATI, with increases of 104.1% and 139.9%, respectively.
• Chairman Robert S. Wetherbee sold 50,000 shares of ATI, representing a 12.3% decrease in his position, amid a broader trend of insider selling, with 195,359 shares sold in the last 90 days.

Alberta Investment Management Corp lifted its stake in ATI Inc. (NYSE:ATI - Free Report) by 24.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 105,393 shares of the basic materials company's stock after purchasing an additional 20,567 shares during the quarter. Alberta Investment Management Corp owned about 0.07% of ATI worth $5,484,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ATI. Golden State Wealth Management LLC increased its stake in ATI by 104.1% during the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 304 shares in the last quarter. Bessemer Group Inc. increased its position in shares of ATI by 139.9% in the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 386 shares during the period. Olde Wealth Management LLC purchased a new position in ATI in the 1st quarter worth $36,000. Fifth Third Bancorp lifted its position in ATI by 115.7% during the 1st quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock worth $58,000 after acquiring an additional 603 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in ATI by 418.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company's stock valued at $69,000 after purchasing an additional 1,062 shares during the last quarter.

ATI Price Performance

Shares of NYSE:ATI traded down $1.05 during trading on Monday, reaching $75.67. 2,958,343 shares of the company's stock traded hands, compared to its average volume of 2,001,356. The company has a quick ratio of 1.20, a current ratio of 2.52 and a debt-to-equity ratio of 0.92. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $96.20. The company has a 50-day simple moving average of $85.97 and a 200-day simple moving average of $67.46. The firm has a market cap of $10.43 billion, a PE ratio of 26.27, a P/E/G ratio of 1.02 and a beta of 1.20.

ATI (NYSE:ATI - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. ATI had a net margin of 9.26% and a return on equity of 21.34%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The company's quarterly revenue was up 4.1% on a year-over-year basis. As a group, analysts predict that ATI Inc. will post 2.89 earnings per share for the current year.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction that occurred on Thursday, June 12th. The stock was 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 approximately $29,924,234.34. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 195,359 shares of company stock valued at $15,103,486 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ATI shares. Barclays increased their price objective on ATI from $75.00 to $90.00 and gave the company an "overweight" rating in a report on Monday. Benchmark restated a "buy" rating and set a $81.00 price objective on shares of ATI in a research note on Monday, April 21st. BTIG Research set a $105.00 price objective on shares of ATI and gave the company a "buy" rating in a report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft set a $115.00 target price on shares of ATI and gave the stock a "hold" rating in a report on Tuesday, July 8th. Finally, Susquehanna decreased their target price on shares of ATI from $105.00 to $100.00 and set a "positive" rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $91.14.

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.