Dover Advisors LLC Invests $245,000 in ATI Inc. (NYSE:ATI)

Dover Advisors LLC bought a new position in shares of ATI Inc. (NYSE:ATI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,706 shares of the basic materials company's stock, valued at approximately $245,000.

Several other institutional investors have also recently bought and sold shares of the business. Fifth Third Bancorp grew its holdings in shares of ATI by 115.7% during the 1st quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock valued at $58,000 after purchasing an additional 603 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in ATI by 418.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company's stock valued at $69,000 after purchasing an additional 1,062 shares during the last quarter. UMB Bank n.a. boosted its position in ATI by 86.2% in the first quarter. UMB Bank n.a. now owns 1,579 shares of the basic materials company's stock valued at $82,000 after buying an additional 731 shares in the last quarter. Mainstream Capital Management LLC bought a new stake in shares of ATI during the fourth quarter worth $94,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of ATI by 20.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company's stock worth $95,000 after buying an additional 288 shares in the last quarter.

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $83.93, for a total value of $4,196,500.00. Following the completion of the transaction, the chairman now directly owns 356,538 shares of the company's stock, valued at approximately $29,924,234.34. This trade represents a 12.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 195,359 shares of company stock worth $15,103,486. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

ATI Trading Down 2.9%

ATI traded down $2.45 during midday trading on Wednesday, hitting $82.25. 1,539,695 shares of the company were exchanged, compared to its average volume of 1,772,501. The firm's 50 day moving average price is $68.16 and its 200-day moving average price is $60.13. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $86.40. The firm has a market capitalization of $11.60 billion, a P/E ratio of 29.78, a P/E/G ratio of 1.19 and a beta of 1.14. 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 posted its quarterly earnings data 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 return on equity of 21.37% and a net margin of 8.93%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. The firm's quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts forecast that ATI Inc. will post 2.89 EPS for the current fiscal year.

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.