Y Intercept Hong Kong Ltd Makes New $3.36 Million Investment in ATI Inc. (NYSE:ATI)

Y Intercept Hong Kong Ltd bought a new position in shares of ATI Inc. (NYSE:ATI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 64,556 shares of the basic materials company's stock, valued at approximately $3,359,000.

A number of other hedge funds have also recently bought and sold shares of the company. Keystone Financial Group grew its holdings in ATI by 5.3% during the fourth quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company's stock worth $217,000 after acquiring an additional 200 shares during the period. Pier 88 Investment Partners LLC boosted its position in shares of ATI by 3.0% in the 4th 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 period. Nisa Investment Advisors LLC boosted its position in shares of ATI by 1.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 17,261 shares of the basic materials company's stock valued at $898,000 after purchasing an additional 265 shares during the period. Golden State Wealth Management LLC boosted its position in shares of ATI by 104.1% in the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 304 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in shares of ATI by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 54,250 shares of the basic materials company's stock valued at $2,986,000 after purchasing an additional 340 shares during the period.

ATI Stock Performance

Shares of ATI stock traded up $1.39 during trading on Friday, reaching $94.66. The company had a trading volume of 202,809 shares, compared to its average volume of 2,013,056. The firm's 50 day simple moving average is $84.42 and its two-hundred day simple moving average is $65.95. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.53 and a quick ratio of 1.30. ATI Inc. has a one year low of $39.23 and a one year high of $94.87. The company has a market capitalization of $13.35 billion, a PE ratio of 34.30, a PEG ratio of 1.26 and a beta of 1.13.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business earned $0.48 EPS. The firm's revenue was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that ATI Inc. will post 2.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $115.00 price target on ATI and gave the company a "hold" rating in a research report on Tuesday, July 8th. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. Benchmark restated a "buy" rating and set a $81.00 price objective on shares of ATI in a research report on Monday, April 21st. Susquehanna raised their price objective on ATI from $73.00 to $105.00 and gave the stock a "positive" rating in a research report on Monday, July 14th. Finally, Citigroup upgraded ATI to a "positive" rating in a report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, ATI presently has a consensus rating of "Moderate Buy" and an average price target of $87.29.

Insider Buying and Selling at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chairman directly owned 506,538 shares of the company's stock, valued at approximately $34,535,760.84. This trade represents a 8.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 195,359 shares of company stock valued at $15,103,486. 1.10% of the stock is currently owned by company insiders.

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.