Xponance Inc. raised its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 188.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 15,579 shares of the basic materials company's stock after purchasing an additional 10,173 shares during the quarter. Xponance Inc.'s holdings in ATI were worth $811,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its position in shares of 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 buying an additional 304 shares during the period. Bessemer Group Inc. grew its holdings in 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 acquiring an additional 386 shares during the period. Olde Wealth Management LLC bought a new position in shares of ATI in the 1st quarter worth about $36,000. Fifth Third Bancorp boosted 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 valued at $58,000 after purchasing an additional 603 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position 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 in the last quarter.
Insider Transactions at ATI
In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the company'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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through 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.
ATI Stock Up 0.9%
NYSE ATI traded up $0.82 during trading hours on Friday, hitting $93.39. The company's stock had a trading volume of 1,229,930 shares, compared to its average volume of 1,744,148. The company has a market capitalization of $13.17 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 1.20 and a beta of 1.13. The company has a current ratio of 2.53, a quick ratio of 1.30 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 $95.03. The company's 50-day simple moving average is $82.47 and its two-hundred day simple moving average is $64.65.
ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. ATI had a return on equity of 21.37% and a net margin of 8.93%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share. Research analysts anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ATI has been the topic of a number of research analyst reports. Susquehanna increased their price target on ATI from $73.00 to $105.00 and gave the stock a "positive" rating in a report on Monday. BTIG Research set a $105.00 target price on shares of ATI and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft set a $115.00 price target on shares of ATI and gave the company a "hold" rating in a research note on Tuesday, July 8th. Citigroup raised shares of ATI to a "positive" rating in a research report on Tuesday, May 20th. Finally, KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, ATI presently has an average rating of "Moderate Buy" and a consensus price target of $87.29.
Check Out Our Latest Analysis on ATI
ATI 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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