IFG Advisory LLC Invests $272,000 in ATI Inc. (NYSE:ATI)

Key Points

• IFG Advisory LLC acquired 5,221 shares of ATI Inc., valued at approximately $272,000, during the first quarter.
• Shares of ATI Inc. traded down 1.5% to $74.48, with analysts providing mixed ratings and price targets ranging from $75.00 to $105.00.
• Insider selling occurred, with Chairman Robert S. Wetherbee selling 50,000 shares for over $4.1 million, reducing his ownership by 12.3%.

IFG Advisory LLC bought a new stake in ATI Inc. (NYSE:ATI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 5,221 shares of the basic materials company's stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ATI. Mengis Capital Management Inc. increased its holdings in shares of ATI by 3.2% in the 1st quarter. Mengis Capital Management Inc. now owns 82,907 shares of the basic materials company's stock valued at $4,314,000 after acquiring an additional 2,575 shares during the period. Alberta Investment Management Corp raised its holdings in shares of ATI by 24.2% in the first quarter. Alberta Investment Management Corp now owns 105,393 shares of the basic materials company's stock valued at $5,484,000 after buying an additional 20,567 shares during the last quarter. NorthRock Partners LLC grew its holdings in shares of ATI by 62.1% during the first quarter. NorthRock Partners LLC now owns 540,531 shares of the basic materials company's stock worth $28,124,000 after buying an additional 207,177 shares during the last quarter. XTX Topco Ltd acquired a new position in ATI in the 1st quarter valued at about $2,260,000. Finally, GSA Capital Partners LLP purchased a new stake in ATI during the 1st quarter valued at approximately $851,000.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total transaction of $3,733,000.00. Following the completion of the transaction, the chairman owned 306,538 shares of the company's stock, valued at $22,886,127.08. This represents a 14.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David J. Morehouse sold 7,900 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.81, for a total transaction of $598,899.00. Following the completion of the sale, the director directly owned 44,777 shares in the company, valued at $3,394,544.37. This represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 203,259 shares of company stock worth $16,026,385 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on ATI. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a report on Tuesday, May 20th. Barclays upped their price objective on shares of ATI from $75.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday. BTIG Research set a $120.00 target price on shares of ATI and gave the company a "buy" rating in a report on Monday. Deutsche Bank Aktiengesellschaft set a $115.00 price target on shares of ATI and gave the stock a "hold" rating in a research note on Tuesday, July 8th. Finally, Susquehanna lowered their price objective on ATI from $105.00 to $100.00 and set a "positive" rating on the stock in a report on Friday, August 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, ATI currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.29.

ATI Trading Down 0.9%

NYSE:ATI traded down $0.67 on Thursday, reaching $73.80. The stock had a trading volume of 1,833,477 shares, compared to its average volume of 2,091,001. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $96.20. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 1.02 and a beta of 1.20. The firm's fifty day moving average is $85.77 and its two-hundred day moving average is $67.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.52 and a quick ratio of 1.20.

ATI (NYSE:ATI - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. ATI had a net margin of 9.26% and a return on equity of 21.34%. ATI's revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. Equities analysts expect that ATI Inc. will post 2.89 EPS for the current fiscal year.

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.