Amalgamated Bank Purchases 20,773 Shares of ATI Inc. (NYSE:ATI)

Amalgamated Bank grew its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 47.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 64,248 shares of the basic materials company's stock after acquiring an additional 20,773 shares during the period. Amalgamated Bank's holdings in ATI were worth $3,343,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ATI. Golden State Wealth Management LLC raised its stake in ATI by 104.1% during the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock worth $31,000 after buying an additional 304 shares during the last quarter. Bessemer Group Inc. raised its stake in ATI by 139.9% during the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock worth $34,000 after buying an additional 386 shares during the last quarter. Fifth Third Bancorp raised its stake in ATI by 115.7% during the first quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock worth $58,000 after buying an additional 603 shares during the last quarter. Farther Finance Advisors LLC raised its stake in ATI by 418.1% during the first quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company's stock worth $69,000 after buying an additional 1,062 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in ATI by 86.2% during the first quarter. UMB Bank n.a. now owns 1,579 shares of the basic materials company's stock worth $82,000 after buying an additional 731 shares during the last quarter.

ATI Stock Up 0.7%

NYSE:ATI traded up $0.62 during trading hours on Monday, reaching $87.47. The company had a trading volume of 1,229,621 shares, compared to its average volume of 1,729,966. The firm has a market cap of $12.34 billion, a price-to-earnings ratio of 31.69, a P/E/G ratio of 1.22 and a beta of 1.13. The business's 50-day simple moving average is $78.43 and its two-hundred day simple moving average is $62.88. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $88.78. The company has a quick ratio of 1.30, a current ratio of 2.53 and a debt-to-equity ratio of 0.86.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.07 billion. ATI had a net margin of 8.93% and a return on equity of 21.37%. The business's revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $0.48 earnings per share. On average, equities analysts expect that ATI Inc. will post 2.89 earnings per share for the current year.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the transaction, the chairman directly owned 506,538 shares in the company, valued at $34,535,760.84. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 195,359 shares of company stock worth $15,103,486 in the last ninety days. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Benchmark restated a "buy" rating and issued a $81.00 price target on shares of ATI in a report on Monday, April 21st. Citigroup upgraded shares of ATI to a "positive" rating in a report on Tuesday, May 20th. Finally, BTIG Research set a $105.00 price target on shares of ATI and gave the stock a "buy" rating in a report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $78.29.

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.