Bank of America Corp DE increased its stake in ATI Inc. (NYSE:ATI - Free Report) by 70.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,364,941 shares of the basic materials company's stock after buying an additional 565,867 shares during the quarter. Bank of America Corp DE owned approximately 1.00% of ATI worth $198,544,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Signature Equity Partners LLC lifted its stake in ATI by 208.5% in the 1st quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 123 shares during the last quarter. Torren Management LLC acquired a new position in ATI during the fourth quarter worth approximately $52,000. Summit Securities Group LLC bought a new stake in ATI in the first quarter valued at approximately $60,000. Hollencrest Capital Management raised its stake in ATI by 283.1% in the first quarter. Hollencrest Capital Management now owns 452 shares of the basic materials company's stock valued at $66,000 after buying an additional 334 shares during the period. Finally, Clearstead Advisors LLC lifted its position in shares of ATI by 137.3% in the fourth quarter. Clearstead Advisors LLC now owns 598 shares of the basic materials company's stock valued at $69,000 after buying an additional 346 shares during the last quarter.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on ATI shares. KeyCorp raised their price target on ATI from $175.00 to $211.00 and gave the company an "overweight" rating in a report on Tuesday, June 30th. Zacks Research upgraded shares of ATI from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 25th. JPMorgan Chase & Co. increased their price objective on shares of ATI from $150.00 to $175.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Weiss Ratings upgraded shares of ATI from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 9th. Finally, Susquehanna lifted their target price on shares of ATI from $185.00 to $215.00 and gave the stock a "positive" rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to data from MarketBeat, ATI currently has a consensus rating of "Buy" and a consensus target price of $187.62.
Get Our Latest Report on ATI
Insider Activity
In other news, CEO Kimberly A. Fields sold 59,749 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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 of the company's stock, valued at approximately $39,039,766.98. This trade represents a 21.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 192,199 shares of company stock worth $34,601,100. Corporate insiders own 0.98% of the company's stock.
ATI Stock Performance
Shares of NYSE ATI opened at $200.45 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.67 and a quick ratio of 1.17. The firm has a market cap of $27.36 billion, a price-to-earnings ratio of 66.37, a P/E/G ratio of 1.54 and a beta of 0.98. The stock's fifty day moving average price is $189.59 and its two-hundred day moving average price is $162.77. ATI Inc. has a one year low of $70.42 and a one year high of $205.31.
About ATI
(
Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider ATI, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ATI wasn't on the list.
While ATI currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
