ATI Inc. $ATI Stock Position Raised by Amundi

Key Points

• Amundi increased its ATI stake by 775% in the first quarter, acquiring 231,336 additional shares to hold 261,186 shares valued at approximately $38 million.
• Several major institutions also raised their positions, including State Street, Capital Research Global Investors, Invesco, and Arrowstreet Capital; Norges Bank established a new stake worth about $199 million.
• Analysts remain broadly bullish, with ATI receiving an average “Buy” rating and a $187.62 price target, while the stock recently traded at $193.25. Insiders, however, have sold roughly $34.6 million of shares over the past 90 days.

Amundi increased its stake in ATI Inc. (NYSE:ATI - Free Report) by 775.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 261,186 shares of the basic materials company's stock after acquiring an additional 231,336 shares during the quarter. Amundi owned approximately 0.19% of ATI worth $37,992,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ATI. State Street Corp boosted its position in shares of ATI by 7.4% in the 3rd quarter. State Street Corp now owns 6,042,244 shares of the basic materials company's stock valued at $491,476,000 after purchasing an additional 415,479 shares during the period. Capital Research Global Investors raised its holdings in ATI by 12.0% during the 4th quarter. Capital Research Global Investors now owns 3,611,724 shares of the basic materials company's stock worth $414,481,000 after buying an additional 386,754 shares during the period. Invesco Ltd. raised its holdings in ATI by 7.4% during the 4th quarter. Invesco Ltd. now owns 3,384,924 shares of the basic materials company's stock worth $388,454,000 after buying an additional 233,010 shares during the period. Norges Bank purchased a new stake in ATI during the fourth quarter valued at about $198,787,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in ATI by 231.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company's stock valued at $175,094,000 after buying an additional 840,455 shares in the last quarter.

ATI Stock Up 3.1%

ATI stock opened at $193.25 on Tuesday. The company has a market capitalization of $26.37 billion, a P/E ratio of 63.99, a P/E/G ratio of 1.49 and a beta of 0.98. The firm's fifty day simple moving average is $188.96 and its 200-day simple moving average is $162.23. The company has a current ratio of 2.67, a quick ratio of 1.17 and a debt-to-equity ratio of 0.95. ATI Inc. has a 1-year low of $70.42 and a 1-year high of $205.31.

Insider Buying and Selling

In other ATI news, CEO Kimberly A. Fields sold 59,749 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $179.07, for a total transaction of $10,699,253.43. Following the transaction, the chief executive officer directly owned 218,014 shares in the company, valued at $39,039,766.98. This trade represents a 21.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 192,199 shares of company stock worth $34,601,100 over the last 90 days. Corporate insiders own 0.98% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ATI shares. JPMorgan Chase & Co. lifted their target price on shares of ATI from $150.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. BTIG Research upped their price target on shares of ATI from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Susquehanna raised their price objective on shares of ATI from $185.00 to $215.00 and gave the stock a "positive" rating in a research note on Thursday, July 9th. TD Cowen lifted their price objective on shares of ATI from $170.00 to $210.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. Finally, Weiss Ratings raised shares of ATI from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, ATI has an average rating of "Buy" and an average price target of $187.62.

ATI Company Profile

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.

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