Rhumbline Advisers boosted its holdings in ATI Inc. (NYSE:ATI - Free Report) by 19.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 362,532 shares of the basic materials company's stock after buying an additional 58,241 shares during the period. Rhumbline Advisers owned 0.26% of ATI worth $18,862,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new stake in ATI in the 4th quarter worth about $94,000. EverSource Wealth Advisors LLC lifted its stake in shares of ATI by 20.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company's stock valued at $95,000 after purchasing an additional 288 shares in the last quarter. Park Square Financial Group LLC acquired a new position in shares of ATI in the 4th quarter valued at about $108,000. Smartleaf Asset Management LLC lifted its stake in shares of ATI by 236.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company's stock valued at $132,000 after purchasing an additional 1,690 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of ATI by 137.7% in the 4th quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock valued at $144,000 after purchasing an additional 1,516 shares in the last quarter.
Wall Street Analysts Forecast Growth
ATI has been the topic of several research analyst reports. Benchmark reaffirmed a "buy" rating and issued a $81.00 price objective on shares of ATI in a research note on Monday, April 21st. BTIG Research set a $105.00 price objective on ATI and gave the company a "buy" rating in a research note on Wednesday, May 28th. Barclays lifted their price objective on ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Finally, Citigroup upgraded ATI to a "positive" rating in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, ATI has an average rating of "Moderate Buy" and an average price target of $78.29.
View Our Latest Stock Analysis on ATI
ATI Stock Up 1.5%
Shares of NYSE:ATI traded up $1.28 during mid-day trading on Friday, hitting $84.04. 1,287,277 shares of the company traded hands, compared to its average volume of 1,784,767. The firm has a market cap of $11.86 billion, a P/E ratio of 32.96, a PEG ratio of 0.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $84.28. The firm's 50 day simple moving average is $62.78 and its 200 day simple moving average is $58.94.
ATI (NYSE:ATI - Get Free Report) last posted 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. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $0.48 EPS. ATI's revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.
Insiders Place Their Bets
In other news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction that occurred on Tuesday, May 6th. The stock was 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 now owns 506,538 shares in the company, valued at approximately $34,535,760.84. This trade represents a 8.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 145,359 shares of company stock worth $10,906,986 in the last three months. 1.10% of the stock is owned by insiders.
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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