59,817 Shares in ATI Inc. (NYSE:ATI) Acquired by Moore Capital Management LP

Moore Capital Management LP purchased a new stake in shares of ATI Inc. (NYSE:ATI - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 59,817 shares of the basic materials company's stock, valued at approximately $3,292,000.

Several other large investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new position in shares of ATI in the 4th quarter valued at about $94,000. EverSource Wealth Advisors LLC increased its stake in ATI by 20.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company's stock worth $95,000 after buying an additional 288 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in ATI by 236.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company's stock worth $132,000 after buying an additional 1,690 shares in the last quarter. Blue Trust Inc. grew its position in shares of 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 purchasing an additional 1,516 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of ATI by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company's stock valued at $215,000 after purchasing an additional 192 shares in the last quarter.

ATI Price Performance

Shares of ATI stock traded up $1.25 during midday trading on Friday, reaching $76.27. 1,431,191 shares of the company traded hands, compared to its average volume of 1,742,956. The firm's 50 day simple moving average is $54.22 and its two-hundred day simple moving average is $56.45. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $76.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. The firm has a market cap of $10.76 billion, a PE ratio of 29.91, a price-to-earnings-growth ratio of 0.85 and a beta of 1.01.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm earned $0.48 EPS. The company's revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts expect that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the transaction, the chairman now directly owns 506,538 shares in the company, valued at $34,535,760.84. The trade was a 8.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. StockNews.com upgraded ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. 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. Benchmark reaffirmed a "buy" rating and set a $81.00 price objective on shares of ATI in a report on Monday, April 21st. Barclays raised their price target on ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Finally, BTIG Research set a $90.00 price objective on ATI and gave the company a "buy" rating in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $76.14.

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.