Mutual of America Capital Management LLC Has $3.82 Million Stock Position in ATI Inc. (NYSE:ATI)

Key Points

• Mutual of America Capital Management LLC increased its stake in ATI Inc. by 239.8%, acquiring an additional 51,808 shares during the first quarter, raising its ownership to $3.82 million.
• Several institutional investors have also significantly increased their holdings in ATI, with some firms like Farther Finance Advisors LLC increasing their positions by as much as 418.1%.
• Analysts have raised price targets for ATI, with Barclays setting a new target of $90.00 and BTIG Research giving a target of $120.00, signaling a positive outlook for the company amid a "Moderate Buy" consensus rating.

Mutual of America Capital Management LLC lifted its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 239.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 73,415 shares of the basic materials company's stock after acquiring an additional 51,808 shares during the period. Mutual of America Capital Management LLC owned 0.05% of ATI worth $3,820,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Capital International Investors lifted its holdings in ATI by 5.4% in the 4th quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company's stock valued at $875,190,000 after acquiring an additional 817,182 shares during the last quarter. Capital World Investors lifted its holdings in ATI by 100.5% in the 4th quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company's stock valued at $378,432,000 after acquiring an additional 3,446,919 shares during the last quarter. Invesco Ltd. lifted its holdings in ATI by 4.5% in the 4th quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company's stock valued at $258,495,000 after acquiring an additional 203,742 shares during the last quarter. Dendur Capital LP lifted its holdings in ATI by 601.7% in 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 last quarter. Finally, Ameriprise Financial Inc. lifted its stake in ATI by 0.4% during the fourth quarter. Ameriprise Financial Inc. now owns 3,155,477 shares of the basic materials company's stock valued at $173,677,000 after buying an additional 12,528 shares in the last quarter.

ATI Stock Performance

ATI stock traded down $1.72 during midday trading on Wednesday, hitting $73.76. The stock had a trading volume of 1,096,491 shares, compared to its average volume of 2,079,474. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 0.99 and a beta of 1.20. ATI Inc. has a 52 week low of $39.23 and a 52 week high of $96.20. The stock has a 50-day simple moving average of $85.23 and a 200 day simple moving average of $68.19. The company has a current ratio of 2.52, a quick ratio of 1.20 and a debt-to-equity ratio of 0.92.

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

Insiders Place Their Bets

In other ATI news, Director David J. Morehouse sold 7,900 shares of ATI stock in a transaction 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 transaction, the director directly owned 44,777 shares of the company's stock, valued at approximately $3,394,544.37. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total value of $3,733,000.00. Following the completion of the transaction, the chairman directly owned 306,538 shares of the company's stock, valued at $22,886,127.08. This represents a 14.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 203,259 shares of company stock valued at $16,026,385. Company insiders own 1.10% of the company's stock.

Analyst Ratings Changes

ATI has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft set a $115.00 target price on shares of ATI and gave the stock a "hold" rating in a research report on Tuesday, July 8th. BTIG Research set a $120.00 target price on ATI and gave the stock a "buy" rating in a research report on Monday, August 4th. Citigroup raised ATI to a "positive" rating in a research report on Tuesday, May 20th. Benchmark reaffirmed a "buy" rating and set a $81.00 target price on shares of ATI in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of ATI from $75.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, ATI presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.29.

About ATI

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.