Woodline Partners LP Has $54.59 Million Stake in ATI Inc. (NYSE:ATI)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in ATI. Artemis Investment Management LLP acquired a new stake in shares of ATI in the fourth quarter valued at approximately $8,103,000. SG Americas Securities LLC acquired a new position in ATI during the fourth quarter valued at approximately $249,000. Inspire Investing LLC raised its position in ATI by 17.3% during the fourth quarter. Inspire Investing LLC now owns 7,265 shares of the basic materials company's stock valued at $400,000 after purchasing an additional 1,070 shares in the last quarter. Blue Trust Inc. raised its position in ATI by 137.7% during the fourth 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. Finally, KBC Group NV raised its position in ATI by 50.5% during the fourth quarter. KBC Group NV now owns 5,059 shares of the basic materials company's stock valued at $278,000 after purchasing an additional 1,697 shares in the last quarter.

ATI Stock Performance

NYSE ATI opened at $76.54 on Tuesday. The firm's fifty day moving average price is $55.22 and its two-hundred day moving average price is $56.79. The stock has a market cap of $10.80 billion, a PE ratio of 30.02, a PEG ratio of 0.85 and a beta of 1.01. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $76.74. 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 (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, topping analysts' consensus estimates of $0.58 by $0.14. ATI had a net margin of 8.43% and a return on equity of 21.16%. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The company's revenue was up 9.7% on a year-over-year basis. On average, equities analysts expect that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the business's stock in a transaction on 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 sale, the chairman now owns 506,538 shares of the company's stock, valued at $34,535,760.84. The trade was a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ATI has been the subject of several research analyst reports. Barclays boosted their price objective on shares of ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Susquehanna boosted their price objective on shares of ATI from $70.00 to $73.00 and gave the company a "positive" rating in a research report on Wednesday, February 5th. Benchmark restated a "buy" rating and set a $81.00 price objective on shares of ATI in a research report on Monday, April 21st. BTIG Research set a $90.00 price objective on shares of ATI and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, StockNews.com upgraded shares of ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.14.

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.

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