New Mexico Educational Retirement Board purchased a new position in ATI Inc. (NYSE:ATI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 28,800 shares of the basic materials company's stock, valued at approximately $1,498,000.
A number of other hedge funds have also bought and sold shares of ATI. Proficio Capital Partners LLC purchased a new position in ATI in the 4th quarter worth about $618,000. PNC Financial Services Group Inc. raised its position in ATI by 32.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 105,948 shares of the basic materials company's stock worth $5,831,000 after buying an additional 25,964 shares during the last quarter. Amundi raised its position in ATI by 231.2% in the 4th quarter. Amundi now owns 73,326 shares of the basic materials company's stock worth $4,075,000 after buying an additional 51,184 shares during the last quarter. AlphaQuest LLC raised its position in ATI by 1,683.0% in the 4th quarter. AlphaQuest LLC now owns 4,511 shares of the basic materials company's stock worth $248,000 after buying an additional 4,258 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in ATI by 10.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,545 shares of the basic materials company's stock worth $1,736,000 after buying an additional 3,063 shares during the last quarter.
Wall Street Analyst Weigh In
ATI has been the subject of a number of recent research reports. BTIG Research set a $105.00 price target on ATI and gave the company a "buy" rating in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft set a $115.00 price target on ATI and gave the company a "hold" rating in a research note on Tuesday, July 8th. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Susquehanna boosted their price target on ATI from $73.00 to $105.00 and gave the company a "positive" rating in a research note on Monday. Finally, Citigroup upgraded ATI to a "positive" rating in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, ATI has a consensus rating of "Moderate Buy" and an average target price of $87.29.
Read Our Latest Stock Analysis on ATI
ATI Price Performance
Shares of ATI traded up $1.22 during mid-day trading on Monday, hitting $90.53. 2,140,485 shares of the stock were exchanged, compared to its average volume of 1,741,075. The company has a market cap of $12.77 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 1.19 and a beta of 1.13. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $91.96. The firm has a 50-day moving average of $80.75 and a two-hundred day moving average of $63.79. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.30 and a current ratio of 2.53.
ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. ATI had a return on equity of 21.37% and a net margin of 8.93%. The company's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. On average, equities analysts predict that ATI Inc. will post 2.89 earnings per share for the current year.
Insiders Place Their Bets
In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $83.93, for a total transaction of $4,196,500.00. Following the sale, the chairman owned 356,538 shares in the company, valued at approximately $29,924,234.34. This represents a 12.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 195,359 shares of company stock worth $15,103,486. Corporate insiders own 1.10% of the company's stock.
About ATI
(
Free Report)
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.
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