CenterBook Partners LP Purchases 13,730 Shares of ATI Inc. (NYSE:ATI)

CenterBook Partners LP boosted its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 338.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,791 shares of the basic materials company's stock after purchasing an additional 13,730 shares during the period. CenterBook Partners LP's holdings in ATI were worth $926,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted 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 purchasing an additional 304 shares during the period. Bessemer Group Inc. lifted 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 purchasing an additional 386 shares during the period. Olde Wealth Management LLC bought a new position in ATI during the first quarter worth about $36,000. Headlands Technologies LLC bought a new position in ATI during the first quarter worth about $47,000. Finally, Fifth Third Bancorp lifted 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 purchasing an additional 603 shares during the period.

Analyst Ratings Changes

Several analysts have recently weighed in on ATI shares. Benchmark reaffirmed a "buy" rating and set a $81.00 price objective on shares of ATI in a report on Monday, April 21st. Susquehanna raised their price objective on shares of ATI from $73.00 to $105.00 and gave the stock a "positive" rating in a report on Monday. KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Tuesday, May 20th. Citigroup raised shares of ATI to a "positive" rating in a report on Tuesday, May 20th. Finally, BTIG Research set a $105.00 price objective on shares of ATI and gave the stock a "buy" rating in a report on Wednesday, May 28th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $87.29.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction 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 directly owned 356,538 shares of the company's stock, valued at $29,924,234.34. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 195,359 shares of company stock worth $15,103,486. 1.10% of the stock is currently owned by insiders.

ATI Trading Up 0.9%

ATI traded up $0.82 during trading on Friday, reaching $93.39. 1,230,167 shares of the company's stock were exchanged, compared to its average volume of 1,744,149. The company's fifty day moving average price is $82.47 and its 200-day moving average price is $64.65. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.30 and a current ratio of 2.53. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $95.03. The firm has a market capitalization of $13.17 billion, a PE ratio of 33.84, a P/E/G ratio of 1.20 and a beta of 1.13.

ATI (NYSE:ATI - Get Free Report) last released its 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. ATI had a net margin of 8.93% and a return on equity of 21.37%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business earned $0.48 EPS. The business's quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

ATI 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.