ATI Inc. (NYSE:ATI) Shares Acquired by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. increased its stake in ATI Inc. by 26% during the first quarter, purchasing an additional 11,678 shares, bringing its total holdings to 56,538 shares worth approximately $2.94 million.
• Analysts have a consensus rating of "Moderate Buy" for ATI, with a target price averaging $87.29, reflecting bullish sentiments from multiple research firms.
• Insider activity saw Chairman Robert S. Wetherbee sell 50,000 shares at $68.18, representing an 8.98% decrease in his ownership of the stock.

Envestnet Asset Management Inc. boosted its holdings in ATI Inc. (NYSE:ATI - Free Report) by 26.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 56,538 shares of the basic materials company's stock after buying an additional 11,678 shares during the period. Envestnet Asset Management Inc.'s holdings in ATI were worth $2,942,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of ATI by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 902,200 shares of the basic materials company's stock valued at $46,941,000 after acquiring an additional 11,048 shares in the last quarter. Olde Wealth Management LLC bought a new stake in shares of ATI during the first quarter valued at approximately $36,000. Teacher Retirement System of Texas bought a new position in ATI in the first quarter worth approximately $1,243,000. Amalgamated Bank raised its stake in ATI by 47.8% in the first quarter. Amalgamated Bank now owns 64,248 shares of the basic materials company's stock worth $3,343,000 after buying an additional 20,773 shares in the last quarter. Finally, KBC Group NV raised its stake in ATI by 14.2% in the first quarter. KBC Group NV now owns 5,779 shares of the basic materials company's stock worth $301,000 after buying an additional 720 shares in the last quarter.

ATI Stock Performance

Shares of ATI stock traded down $16.47 on Thursday, reaching $77.77. 3,093,201 shares of the stock were exchanged, compared to its average volume of 2,026,371. The firm has a market capitalization of $10.97 billion, a PE ratio of 28.13, a PEG ratio of 1.25 and a beta of 1.13. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $96.20. The business has a fifty day moving average price of $85.91 and a two-hundred day moving average price of $67.03. The company has a current ratio of 2.53, a quick ratio of 1.30 and a debt-to-equity ratio of 0.86.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. ATI had a net margin of 8.93% and a return on equity of 21.37%. The firm's revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. As a group, research analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total value of $3,409,000.00. Following the transaction, the chairman directly owned 506,538 shares in the company, valued at approximately $34,535,760.84. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 195,359 shares of company stock worth $15,103,486. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ATI shares. Susquehanna boosted their price objective on shares of ATI from $73.00 to $105.00 and gave the stock a "positive" rating in a research note on Monday, July 14th. BTIG Research set a $105.00 price target on shares of ATI and gave the company a "buy" rating in a report on Wednesday, May 28th. Citigroup raised shares of ATI to a "positive" rating in a research note on Tuesday, May 20th. KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Finally, Benchmark restated a "buy" rating and set a $81.00 price target on shares of ATI in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.29.

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.