NorthRock Partners LLC Boosts Position in ATI Inc. (NYSE:ATI)

Key Points

• NorthRock Partners LLC increased its holdings in ATI Inc. by 62.1%, owning approximately $28.12 million worth of shares, which represent 0.9% of its investment portfolio.
• Several institutional investors, including Capital International Investors and Dendur Capital LP, have significantly grown their positions in ATI, indicating strong investor interest in the company.
• Analysts show a positive outlook on ATI, with a consensus rating of "Moderate Buy" and a price target averaging $87.29, amid reports of strong earnings exceeding expectations.

NorthRock Partners LLC lifted its stake in ATI Inc. (NYSE:ATI - Free Report) by 62.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 540,531 shares of the basic materials company's stock after purchasing an additional 207,177 shares during the period. ATI comprises about 0.9% of NorthRock Partners LLC's investment portfolio, making the stock its 20th largest position. NorthRock Partners LLC owned 0.38% of ATI worth $28,124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ATI. Norges Bank bought a new position in ATI during the 4th quarter worth about $85,047,000. New Age Alpha Advisors LLC bought a new position in ATI during the 4th quarter worth about $463,000. Pictet Asset Management Holding SA grew its holdings in ATI by 11.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 19,240 shares of the basic materials company's stock worth $1,059,000 after acquiring an additional 1,941 shares in the last quarter. Schroder Investment Management Group grew its holdings in ATI by 9.7% during the 4th quarter. Schroder Investment Management Group now owns 392,273 shares of the basic materials company's stock worth $21,524,000 after acquiring an additional 34,838 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in ATI by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 2,150,204 shares of the basic materials company's stock worth $118,389,000 after acquiring an additional 197,270 shares in the last quarter.

Analyst Ratings Changes

Several analysts have commented on ATI shares. BTIG Research set a $105.00 price target on shares of ATI and gave the company a "buy" rating in a research report on Wednesday, May 28th. Citigroup raised shares of ATI to a "positive" rating in a research report on Tuesday, May 20th. Susquehanna decreased their price target on shares of ATI from $105.00 to $100.00 and set a "positive" rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft set a $115.00 price target on shares of ATI and gave the company a "hold" rating in a research report on Tuesday, July 8th. Finally, Benchmark reissued a "buy" rating and set a $81.00 price target on shares of ATI in a research report on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, ATI has an average rating of "Moderate Buy" and a consensus price target of $86.57.

ATI Stock Performance

Shares of ATI stock traded down $1.11 during midday trading on Friday, hitting $75.83. The company had a trading volume of 385,298 shares, compared to its average volume of 2,054,227. The stock has a market cap of $10.70 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.25 and a beta of 1.13. The company has a quick ratio of 1.30, a current ratio of 2.53 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $85.95 and a 200 day simple moving average of $67.18. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $96.20.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.72 by $0.02. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. ATI had a net margin of 8.93% and a return on equity of 21.37%. ATI's revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. As a group, analysts predict that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chairman directly owned 506,538 shares of the company's stock, valued at $34,535,760.84. This trade represents a 8.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 195,359 shares of company stock valued at $15,103,486. Company insiders own 1.10% of the company's stock.

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.