ATI Inc. (NYSE:ATI) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ATI Inc. by 66.1% during the first quarter, acquiring a total of 52,395 shares valued at approximately $2.73 million.
• Several other hedge funds also boosted their holdings in ATI, including Golden State Wealth Management, which raised its stake by 104.1% and Bessemer Group with an increase of 139.9% in the same quarter.
• Wall Street analysts are optimistic about ATI's future, with an average price target of $89.00 and multiple analysts issuing "buy" ratings, although Susquehanna recently adjusted their target downward to $100.00.

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 66.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,395 shares of the basic materials company's stock after acquiring an additional 20,850 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in ATI were worth $2,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital International Investors boosted its stake in ATI by 5.4% in the fourth quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company's stock valued at $875,190,000 after acquiring an additional 817,182 shares in the last quarter. Capital World Investors boosted its position in shares of ATI by 100.5% in the 4th quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company's stock worth $378,432,000 after purchasing an additional 3,446,919 shares in the last quarter. Invesco Ltd. boosted its position in shares of ATI by 4.5% in the 4th quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company's stock worth $258,495,000 after purchasing an additional 203,742 shares in the last quarter. Dendur Capital LP grew its stake in ATI by 601.7% during the 4th quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company's stock worth $196,328,000 after buying an additional 3,058,628 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in ATI by 0.4% during the 4th quarter. Ameriprise Financial Inc. now owns 3,155,477 shares of the basic materials company's stock valued at $173,677,000 after buying an additional 12,528 shares in the last quarter.

ATI Stock Performance

NYSE:ATI traded up $0.04 during trading hours on Wednesday, reaching $74.51. The company had a trading volume of 1,317,898 shares, compared to its average volume of 2,085,189. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.52 and a quick ratio of 1.20. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $96.20. The business's 50 day moving average price is $85.87 and its 200-day moving average price is $67.64. The firm has a market cap of $10.27 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. ATI had a net margin of 9.26% and a return on equity of 21.34%. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ATI. Citigroup raised ATI to a "positive" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their target price on shares of ATI from $75.00 to $92.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Susquehanna dropped their target price on shares of ATI from $105.00 to $100.00 and set a "positive" rating on the stock in a research report on Friday, August 1st. Benchmark reaffirmed a "buy" rating and issued a $81.00 price target on shares of ATI in a report on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of ATI and gave the company a "hold" rating in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.29.

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $83.93, for a total value of $4,196,500.00. Following the completion of the sale, the chairman directly owned 356,538 shares in the company, valued at $29,924,234.34. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 145,359 shares of company stock valued at $11,694,486. Corporate insiders own 1.10% of the company's stock.

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.