Woodline Partners LP Grows Position in ATI Inc. (NYSE:ATI)

Woodline Partners LP increased its position in ATI Inc. (NYSE:ATI - Free Report) by 132.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 991,741 shares of the basic materials company's stock after buying an additional 564,308 shares during the quarter. Woodline Partners LP owned 0.70% of ATI worth $54,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ATI. CIBC Asset Management Inc lifted its position in ATI by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company's stock valued at $215,000 after purchasing an additional 192 shares during the last quarter. Keystone Financial Group lifted its position in ATI by 5.3% in the fourth quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company's stock valued at $217,000 after purchasing an additional 200 shares during the last quarter. Pier 88 Investment Partners LLC lifted its position in ATI by 3.0% in the fourth quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company's stock valued at $419,000 after purchasing an additional 220 shares during the last quarter. Hantz Financial Services Inc. lifted its position in ATI by 2.1% in the fourth quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company's stock valued at $643,000 after purchasing an additional 240 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in ATI by 20.0% in the fourth 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 during the last quarter.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction 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 sale, the chairman now directly owns 506,538 shares of the company's stock, valued at approximately $34,535,760.84. This represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ATI has been the subject of several recent research reports. BTIG Research set a $90.00 price objective on ATI and gave the company a "buy" rating in a research report on Monday, May 5th. Susquehanna boosted their price objective on ATI from $70.00 to $73.00 and gave the company a "positive" rating in a research report on Wednesday, February 5th. Citigroup upgraded ATI to a "positive" rating in a research report on Tuesday. Wall Street Zen raised ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Benchmark restated a "buy" rating and set a $81.00 target price on shares of ATI in a report on Monday, April 21st. 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. Based on data from MarketBeat, ATI has a consensus rating of "Moderate Buy" and a consensus target price of $76.14.

ATI Stock Up 0.6%

ATI stock traded up $0.47 during midday trading on Friday, hitting $75.62. The stock had a trading volume of 1,775,821 shares, compared to its average volume of 1,753,814. The firm has a market cap of $10.67 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 0.85 and a beta of 1.01. The business has a 50-day moving average of $57.18 and a two-hundred day moving average of $57.34. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $76.74. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, equities research analysts forecast that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

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.