The Manufacturers Life Insurance Company Acquires 3,844 Shares of ATI Inc. (NYSE:ATI)

The Manufacturers Life Insurance Company increased its position in ATI Inc. (NYSE:ATI - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 28,810 shares of the basic materials company's stock after acquiring an additional 3,844 shares during the quarter. The Manufacturers Life Insurance Company's holdings in ATI were worth $1,586,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its holdings in ATI by 5.2% in the 4th 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 last quarter. Keystone Financial Group increased its holdings in ATI by 5.3% in the 4th quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company's stock worth $217,000 after acquiring an additional 200 shares during the last quarter. Pier 88 Investment Partners LLC increased its holdings in ATI by 3.0% in the 4th quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company's stock worth $419,000 after acquiring an additional 220 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in ATI by 2.1% in the 4th quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company's stock worth $643,000 after acquiring an additional 240 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in ATI by 20.0% in the 4th 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 last quarter.

ATI Stock Up 0.6%

Shares of NYSE ATI opened at $71.46 on Monday. The business has a 50-day moving average of $52.71 and a 200-day moving average of $56.03. The firm has a market capitalization of $10.08 billion, a price-to-earnings ratio of 28.02, a PEG 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 $72.33. 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 released its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share 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 quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. Sell-side analysts expect that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was 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. The trade was a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ATI has been the subject of a number of recent analyst reports. Barclays lifted their target price on ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, February 10th. 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. BTIG Research set a $90.00 target price on ATI and gave the company a "buy" rating in a report on Monday, May 5th. Benchmark reaffirmed a "buy" rating and set a $81.00 target price on shares of ATI in a report on Monday, April 21st. Finally, StockNews.com raised ATI from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, ATI currently has an average 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.

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