SG Capital Management LLC acquired a new stake in shares of ATI Inc. (NYSE:ATI - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 335,080 shares of the basic materials company's stock, valued at approximately $18,443,000. ATI makes up 1.8% of SG Capital Management LLC's portfolio, making the stock its 18th largest position. SG Capital Management LLC owned about 0.23% of ATI as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Capital World Investors boosted its holdings in 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 buying an additional 3,446,919 shares during the period. Dendur Capital LP raised its holdings in shares of ATI by 601.7% in the 4th quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company's stock valued at $196,328,000 after acquiring an additional 3,058,628 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of ATI by 15.2% in the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company's stock worth $844,061,000 after buying an additional 2,020,313 shares during the last quarter. Norges Bank purchased a new stake in shares of ATI during the 4th quarter valued at $85,047,000. Finally, Capital International Investors lifted its holdings in shares of ATI by 5.4% during the 4th quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company's stock worth $875,190,000 after acquiring an additional 817,182 shares during the last quarter.
Insider Buying and Selling at ATI
In related 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 value of $3,409,000.00. Following the completion of the sale, the chairman now owns 506,538 shares in the company, valued at approximately $34,535,760.84. This trade represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Susquehanna increased their price objective on ATI from $70.00 to $73.00 and gave the company a "positive" rating in a research note on Wednesday, February 5th. Barclays upped their target price on ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Benchmark reaffirmed a "buy" rating and issued a $81.00 target price on shares of ATI in a research report on Monday, April 21st. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday. Finally, BTIG Research set a $90.00 target price on ATI and gave the stock a "buy" rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $76.14.
Read Our Latest Research Report on ATI
ATI Stock Down 1.4%
ATI stock traded down $1.05 during midday trading on Wednesday, hitting $75.12. The stock had a trading volume of 891,443 shares, compared to its average volume of 1,741,097. The stock has a market cap of $10.60 billion, a P/E ratio of 29.44, a P/E/G ratio of 0.85 and a beta of 1.01. ATI Inc. has a 12 month low of $39.23 and a 12 month high of $76.74. The business has a fifty day moving average price of $55.73 and a 200 day moving average price of $56.92. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88.
ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, topping 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 firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the business earned $0.48 earnings per share. ATI's revenue for the quarter was up 9.7% compared to the same quarter last year. Research analysts predict that ATI Inc. will post 2.89 EPS for the current year.
ATI Profile
(
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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