Transcend Capital Advisors LLC acquired a new position in ATI Inc. (NYSE:ATI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,786 shares of the basic materials company's stock, valued at approximately $405,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its stake in ATI by 104.1% during the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock worth $31,000 after purchasing an additional 304 shares during the period. 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 worth $34,000 after buying an additional 386 shares in the last quarter. Fifth Third Bancorp grew its position 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 worth $58,000 after buying an additional 603 shares during the period. Farther Finance Advisors LLC increased its stake in shares of ATI by 418.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company's stock valued at $69,000 after acquiring an additional 1,062 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of ATI by 86.2% in the 1st quarter. UMB Bank n.a. now owns 1,579 shares of the basic materials company's stock valued at $82,000 after acquiring an additional 731 shares in the last quarter.
Insider Transactions at ATI
In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction dated 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 sale, the chairman owned 506,538 shares in the company, valued at $34,535,760.84. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 195,359 shares of company stock worth $15,103,486. 1.10% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on ATI shares. BTIG Research set a $105.00 price target on shares of ATI and gave the stock a "buy" rating in a report on Wednesday, May 28th. Citigroup raised shares of ATI to a "positive" rating in a research report on Tuesday, May 20th. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Finally, Benchmark reaffirmed a "buy" rating and set a $81.00 price target on shares of ATI in a research note on Monday, April 21st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $78.29.
Check Out Our Latest Analysis on ATI
ATI Stock Down 2.6%
NYSE ATI traded down $2.27 during trading hours on Tuesday, hitting $84.07. The company's stock had a trading volume of 149,762 shares, compared to its average volume of 1,720,374. The company has a current ratio of 2.53, a quick ratio of 1.30 and a debt-to-equity ratio of 0.86. The company's 50-day simple moving average is $74.93 and its two-hundred day simple moving average is $61.79. The company has a market capitalization of $11.86 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.22 and a beta of 1.13. ATI Inc. has a 52 week low of $39.23 and a 52 week high of $87.75.
ATI (NYSE:ATI - Get Free Report) last posted its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. ATI had a return on equity of 21.37% and a net margin of 8.93%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $0.48 earnings per share. The company's revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.
ATI Company Profile
(
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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