Cetera Investment Advisers Acquires 11,492 Shares of ATI Inc. $ATI

Key Points

• Cetera Investment Advisers increased its ATI stake by 75.7% in the first quarter, purchasing 11,492 additional shares for a total holding of 26,675 shares valued at approximately $3.88 million.
• ATI shares opened at $200.45, near their 52-week high of $205.31, with the stock up significantly from its 200-day moving average of $162.77. The company carries a market capitalization of $27.36 billion and a high price-to-earnings ratio of 66.37.
• Analysts remain bullish, with ATI holding a consensus “Buy” rating and an average price target of $187.62, while insiders—including CEO Kimberly A. Fields—have sold shares totaling about $34.6 million over the past 90 days.

Cetera Investment Advisers boosted its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 75.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,675 shares of the basic materials company's stock after buying an additional 11,492 shares during the quarter. Cetera Investment Advisers' holdings in ATI were worth $3,880,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ATI. Meeder Asset Management Inc. grew its position in shares of ATI by 2.8% during the 1st quarter. Meeder Asset Management Inc. now owns 2,754 shares of the basic materials company's stock valued at $401,000 after acquiring an additional 74 shares during the period. Lido Advisors LLC raised its holdings in shares of ATI by 2.7% in the 3rd quarter. Lido Advisors LLC now owns 3,784 shares of the basic materials company's stock worth $308,000 after purchasing an additional 101 shares during the period. Signature Equity Partners LLC raised its holdings in shares of ATI by 208.5% in the 1st quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company's stock worth $26,000 after purchasing an additional 123 shares during the period. Activest Wealth Management lifted its stake in ATI by 17.6% in the fourth quarter. Activest Wealth Management now owns 834 shares of the basic materials company's stock valued at $96,000 after purchasing an additional 125 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in ATI by 2.0% in the fourth quarter. D.A. Davidson & CO. now owns 7,202 shares of the basic materials company's stock valued at $827,000 after purchasing an additional 140 shares during the last quarter.

ATI Price Performance

Shares of NYSE ATI opened at $200.45 on Wednesday. The stock has a market cap of $27.36 billion, a PE ratio of 66.37, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98. ATI Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $205.31. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.17 and a current ratio of 2.67. The stock has a fifty day moving average of $189.59 and a 200-day moving average of $162.77.

Insider Buying and Selling

In other ATI news, CEO Kimberly A. Fields sold 59,749 shares of ATI 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 completion of the transaction, the chief executive officer owned 218,014 shares of the company's stock, valued at $39,039,766.98. The trade was a 21.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 192,199 shares of company stock valued at $34,601,100. 0.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ATI has been the subject of a number of recent research reports. BTIG Research raised their target price on ATI from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on ATI from $150.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Zacks Research raised ATI from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 25th. KeyCorp increased their price target on ATI from $175.00 to $211.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $194.00 price objective on shares of ATI in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to MarketBeat, ATI presently has a consensus rating of "Buy" and a consensus target price of $187.62.

About ATI

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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