Swiss National Bank Has $14.38 Million Position in ATI Inc. (NYSE:ATI)

Key Points

• The Swiss National Bank increased its stake in ATI Inc. by 12.9% in Q1, now holding approximately 276,300 shares valued at around $14.38 million.
• Several hedge funds, including the Teacher Retirement System of Texas and Bank of New York Mellon Corp, have adjusted their positions in ATI, indicating strong institutional interest in the company.
• ATI recently reported earnings of $0.74 per share, exceeding estimates, with revenue growth of 4.1% year-over-year, reflecting solid financial performance in a competitive market.

Swiss National Bank grew its stake in ATI Inc. (NYSE:ATI - Free Report) by 12.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 276,300 shares of the basic materials company's stock after purchasing an additional 31,500 shares during the period. Swiss National Bank owned about 0.20% of ATI worth $14,376,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new stake in shares of ATI in the 1st quarter valued at approximately $1,243,000. Bank of New York Mellon Corp boosted its stake in shares of ATI by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 902,200 shares of the basic materials company's stock valued at $46,941,000 after purchasing an additional 11,048 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of ATI by 39.2% in the 1st quarter. GAMMA Investing LLC now owns 3,478 shares of the basic materials company's stock valued at $181,000 after purchasing an additional 979 shares in the last quarter. KBC Group NV boosted its stake in shares of ATI by 14.2% in the 1st quarter. KBC Group NV now owns 5,779 shares of the basic materials company's stock valued at $301,000 after purchasing an additional 720 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of ATI by 139.9% in 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 in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Benchmark restated a "buy" rating and issued a $81.00 price target on shares of ATI in a research note on Monday, April 21st. Susquehanna dropped their price objective on shares of ATI from $105.00 to $100.00 and set a "positive" rating for the company in a report on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of ATI from $75.00 to $92.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Barclays raised their price objective on shares of ATI from $75.00 to $90.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of ATI and gave the company a "hold" rating in a report on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.29.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total transaction of $3,733,000.00. Following the completion of the sale, the chairman owned 306,538 shares of the company's stock, valued at $22,886,127.08. This trade represents a 14.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David J. Morehouse sold 7,900 shares of the firm's stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 203,259 shares of company stock valued at $16,026,385. Company insiders own 1.10% of the company's stock.

ATI Stock Down 0.2%

ATI stock opened at $75.36 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.20 and a current ratio of 2.52. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $96.20. The firm has a 50 day moving average price of $85.07 and a two-hundred day moving average price of $68.24. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.03 and a beta of 1.20.

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

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.

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