Mountaineer Partners Management LLC Buys 42,020 Shares of ATI Inc. (NYSE:ATI)

Mountaineer Partners Management LLC boosted its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 29.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 182,670 shares of the basic materials company's stock after acquiring an additional 42,020 shares during the quarter. ATI comprises 7.4% of Mountaineer Partners Management LLC's holdings, making the stock its 3rd largest holding. Mountaineer Partners Management LLC owned approximately 0.13% of ATI worth $10,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in ATI by 14.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company's stock worth $86,031,000 after acquiring an additional 191,823 shares during the last quarter. Covea Finance increased its stake in ATI by 32.7% during the fourth quarter. Covea Finance now owns 65,000 shares of the basic materials company's stock worth $3,578,000 after acquiring an additional 16,000 shares during the last quarter. Blue Trust Inc. increased its stake in ATI by 137.7% during the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock worth $144,000 after acquiring an additional 1,516 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in ATI during the fourth quarter worth $618,000. Finally, Bleakley Financial Group LLC increased its stake in ATI by 33.6% during the fourth quarter. Bleakley Financial Group LLC now owns 4,780 shares of the basic materials company's stock worth $263,000 after acquiring an additional 1,203 shares during the last quarter.

ATI Stock Up 1.7%

NYSE ATI traded up $1.25 during trading on Friday, reaching $76.27. 1,431,191 shares of the company's stock were exchanged, compared to its average volume of 1,743,214. The stock has a market cap of $10.76 billion, a P/E ratio of 29.91, a price-to-earnings-growth ratio of 0.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44. The company has a 50 day moving average price of $54.70 and a two-hundred day moving average price of $56.60. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $76.32.

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, topping analysts' consensus estimates of $0.58 by $0.14. The company 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 21.16% and a net margin of 8.43%. ATI's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 EPS. On average, equities research analysts anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction dated 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 sale, the chairman now owns 506,538 shares in the company, valued at approximately $34,535,760.84. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on ATI. Barclays raised their target price on ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. StockNews.com upgraded ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. BTIG Research set a $90.00 price target on ATI and gave the stock a "buy" rating in a research report on Monday, May 5th. KeyCorp upgraded ATI from a "sector weight" rating to an "overweight" rating and set a $55.00 price target for the company in a research report on Wednesday, April 23rd. Finally, Susquehanna lifted their target price on ATI from $70.00 to $73.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, ATI presently has a consensus rating of "Moderate Buy" and an average target price of $76.14.

ATI 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.