ATI Inc. (NYSE:ATI) Shares Purchased by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in ATI Inc. by 9.0% during Q1, owning 271,222 shares valued at approximately $14.1 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for ATI, with an average price target of $87.29, reflecting optimism about future growth.
• Insider trading activity included Chairman Robert S. Wetherbee selling 50,000 shares for around $3.4 million, reducing his stake by nearly 9%.

Royce & Associates LP lifted its stake in ATI Inc. (NYSE:ATI - Free Report) by 9.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,222 shares of the basic materials company's stock after purchasing an additional 22,320 shares during the period. Royce & Associates LP owned 0.19% of ATI worth $14,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Golden State Wealth Management LLC boosted its holdings in shares of ATI by 104.1% during the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 304 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of ATI by 139.9% during the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 386 shares during the last quarter. Olde Wealth Management LLC bought a new position in shares of ATI during the 1st quarter valued at about $36,000. Fifth Third Bancorp boosted its holdings in shares of ATI by 115.7% during the 1st quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock valued at $58,000 after purchasing an additional 603 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of ATI by 418.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company's stock valued at $69,000 after purchasing an additional 1,062 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. BTIG Research set a $105.00 target price on shares of ATI and gave the company a "buy" rating in a research report on Wednesday, May 28th. Benchmark restated a "buy" rating and set a $81.00 target price on shares of ATI in a research report on Monday, April 21st. KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft set a $115.00 target price on shares of ATI and gave the company a "hold" rating in a research report on Tuesday, July 8th. Finally, Susquehanna upped their target price on shares of ATI from $73.00 to $105.00 and gave the company a "positive" rating in a research report on Monday, July 14th. Three equities research 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 currently has a consensus rating of "Moderate Buy" and an average price target of $87.29.

ATI Trading Up 1.8%

ATI stock traded up $1.72 during midday trading on Friday, reaching $94.99. The stock had a trading volume of 858,170 shares, compared to its average volume of 1,443,608. The company has a quick ratio of 1.30, a current ratio of 2.53 and a debt-to-equity ratio of 0.86. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $95.17. The firm has a market cap of $13.40 billion, a price-to-earnings ratio of 34.42, a price-to-earnings-growth ratio of 1.25 and a beta of 1.13. The company has a fifty day moving average of $84.79 and a 200 day moving average of $66.22.

ATI (NYSE:ATI - Get Free Report) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. ATI had a net margin of 8.93% and a return on equity of 21.37%. ATI's revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $0.48 earnings per share. On average, analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the sale, the chairman owned 506,538 shares of the company's stock, valued at approximately $34,535,760.84. This represents a 8.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 195,359 shares of company stock valued at $15,103,486. Corporate insiders own 1.10% of the company's stock.

ATI Company 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.