Ionic Capital Management LLC purchased a new position in shares of ATI Inc. (NYSE:ATI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,200 shares of the basic materials company's stock, valued at approximately $506,000.
Several other hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of ATI by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company's stock valued at $86,031,000 after buying an additional 191,823 shares during the period. Covea Finance lifted its position in shares of ATI by 32.7% during the 4th quarter. Covea Finance now owns 65,000 shares of the basic materials company's stock worth $3,578,000 after purchasing an additional 16,000 shares during the last quarter. Blue Trust Inc. increased its holdings in ATI by 137.7% in the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock valued at $144,000 after buying an additional 1,516 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in ATI in the fourth quarter valued at $618,000. Finally, Bleakley Financial Group LLC lifted its holdings in ATI by 33.6% during the 4th quarter. Bleakley Financial Group LLC now owns 4,780 shares of the basic materials company's stock worth $263,000 after buying an additional 1,203 shares during the last quarter.
Insider Activity
In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the transaction, the chairman now owns 506,538 shares of the company's stock, valued at approximately $34,535,760.84. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Benchmark reiterated a "buy" rating and issued a $81.00 price target on shares of ATI in a research note on Monday, April 21st. Susquehanna raised their price objective on ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a report on Wednesday, February 5th. StockNews.com upgraded ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. KeyCorp upgraded shares of ATI from a "sector weight" rating to an "overweight" rating and set a $55.00 target price on the stock in a research report on Wednesday, April 23rd. Finally, BTIG Research set a $90.00 price target on shares of ATI and gave the company a "buy" rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $76.14.
Check Out Our Latest Research Report on ATI
ATI Trading Up 1.7%
Shares of NYSE ATI traded up $1.25 during midday trading on Friday, hitting $76.27. The stock had a trading volume of 1,431,191 shares, compared to its average volume of 1,739,585. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $76.31. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 0.85 and a beta of 1.01. The company has a fifty day moving average price of $54.22 and a 200 day moving average price of $56.45.
ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned $0.48 EPS. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that ATI Inc. will post 2.89 earnings per share for the current year.
About ATI
(
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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