Covea Finance Has $3.12 Million Stock Holdings in ATI Inc. (NYSE:ATI)

Covea Finance lessened its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 7.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,000 shares of the basic materials company's stock after selling 5,000 shares during the period. Covea Finance's holdings in ATI were worth $3,122,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ATI. Capital World Investors grew its position in ATI by 100.5% during the fourth quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company's stock worth $378,432,000 after buying an additional 3,446,919 shares in the last quarter. Dendur Capital LP lifted its position in shares of ATI by 601.7% during the 4th quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company's stock valued at $196,328,000 after acquiring an additional 3,058,628 shares during the period. Vanguard Group Inc. lifted its position in shares of ATI by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company's stock valued at $844,061,000 after acquiring an additional 2,020,313 shares during the period. Norges Bank acquired a new stake in shares of ATI during the 4th quarter worth $85,047,000. Finally, Capital International Investors increased its position in shares of ATI by 5.4% in the fourth quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company's stock worth $875,190,000 after purchasing an additional 817,182 shares during the period.

ATI Price Performance

NYSE:ATI traded up $0.24 during trading hours on Friday, hitting $82.42. The company's stock had a trading volume of 6,228,513 shares, compared to its average volume of 1,784,901. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $86.40. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.53 and a quick ratio of 1.30. The stock has a fifty day simple moving average of $70.26 and a 200-day simple moving average of $60.61. The company has a market capitalization of $11.63 billion, a P/E ratio of 29.86, a PEG ratio of 1.16 and a beta of 1.13.

ATI (NYSE:ATI - Get Free Report) last posted 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. 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 for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 earnings per share. On average, analysts anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 45,359 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $75.31, for a total transaction of $3,415,986.29. Following the sale, the chairman now owns 461,179 shares of the company's stock, valued at approximately $34,731,390.49. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 195,359 shares of company stock valued at $15,103,486 in the last quarter. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ATI shares. Benchmark reaffirmed a "buy" rating and set a $81.00 price objective on shares of ATI in a research report on Monday, April 21st. KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. 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. Finally, Citigroup upgraded shares of ATI to a "positive" rating in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $78.29.

ATI Company 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.