First Trust Advisors LP Increases Stake in ATI Inc. $ATI

First Trust Advisors LP grew its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 14.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,147 shares of the basic materials company's stock after purchasing an additional 11,883 shares during the quarter. First Trust Advisors LP owned approximately 0.07% of ATI worth $13,549,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of ATI by 456.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 129,617 shares of the basic materials company's stock worth $14,875,000 after acquiring an additional 106,343 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in ATI in the 1st quarter worth $4,599,000. Precision Wealth Strategies LLC purchased a new stake in ATI in the 1st quarter worth $1,009,000. Illinois Municipal Retirement Fund bought a new position in shares of ATI during the 1st quarter valued at about $1,106,000. Finally, Erste Asset Management GmbH boosted its holdings in shares of ATI by 259.1% during the 4th quarter. Erste Asset Management GmbH now owns 25,780 shares of the basic materials company's stock valued at $3,007,000 after purchasing an additional 18,600 shares during the last quarter.

Insider Activity

In other news, CEO Kimberly A. Fields sold 59,749 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer owned 218,014 shares in the company, valued at approximately $39,039,766.98. This trade represents a 21.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 192,199 shares of company stock worth $34,601,100. 0.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ATI has been the topic of several research reports. Zacks Research raised ATI from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 25th. BTIG Research increased their price target on ATI from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Susquehanna raised their price target on ATI from $185.00 to $215.00 and gave the company a "positive" rating in a report on Thursday, July 9th. TD Cowen lifted their price objective on shares of ATI from $170.00 to $210.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Finally, KeyCorp boosted their target price on ATI from $175.00 to $211.00 and gave the company an "overweight" rating in a research report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat.com, ATI currently has an average rating of "Buy" and an average price target of $176.78.

ATI Price Performance

ATI opened at $181.87 on Friday. The stock has a market cap of $24.82 billion, a P/E ratio of 60.22, a PEG ratio of 1.42 and a beta of 0.96. ATI Inc. has a 52-week low of $70.42 and a 52-week high of $205.31. The company has a quick ratio of 1.17, a current ratio of 2.67 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average of $187.83 and a 200 day moving average of $161.29.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.12. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.19 billion. ATI had a net margin of 9.26% and a return on equity of 26.44%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. As a group, sell-side analysts anticipate that ATI Inc. will post 4.49 EPS for the current year.

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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