Raiffeisen Bank International AG Takes $768,000 Position in ATI Inc. (NYSE:ATI)

Raiffeisen Bank International AG purchased a new stake in ATI Inc. (NYSE:ATI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,000 shares of the basic materials company's stock, valued at approximately $768,000.

Several other hedge funds also recently added to or reduced their stakes in ATI. Mainstream Capital Management LLC acquired a new position in shares of ATI in the fourth quarter worth about $94,000. EverSource Wealth Advisors LLC raised its position in shares of ATI by 20.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company's stock worth $95,000 after acquiring an additional 288 shares during the period. Smartleaf Asset Management LLC raised its position in shares of ATI by 236.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company's stock worth $132,000 after acquiring an additional 1,690 shares during the period. Blue Trust Inc. raised 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 worth $144,000 after acquiring an additional 1,516 shares during the period. Finally, CIBC Asset Management Inc raised 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 worth $215,000 after acquiring an additional 192 shares during the period.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total value of $3,409,000.00. Following the completion of the transaction, the chairman now owns 506,538 shares in the company, valued at $34,535,760.84. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Benchmark restated a "buy" rating and set a $81.00 price target on shares of ATI in a research report on Monday, April 21st. BTIG Research set a $90.00 price objective on shares of ATI and gave the company a "buy" rating in a report on Monday, May 5th. Citigroup upgraded shares of ATI to a "positive" rating in a report on Tuesday. KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Tuesday. Finally, Susquehanna increased their price objective on shares of ATI from $70.00 to $73.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, ATI presently has a consensus rating of "Moderate Buy" and an average target price of $76.14.

ATI Trading Down 0.8%

Shares of NYSE:ATI traded down $0.58 during mid-day trading on Tuesday, reaching $76.00. 1,817,825 shares of the company were exchanged, compared to its average volume of 1,744,357. 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 $10.72 billion, a price-to-earnings ratio of 29.80, a P/E/G ratio of 0.85 and a beta of 1.01. The firm's 50-day simple moving average is $55.22 and its 200 day simple moving average is $56.79. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $76.74.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $0.48 earnings per share. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

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.