Advisors Asset Management Inc. Grows Position in ATI Inc. (NYSE:ATI)

Advisors Asset Management Inc. increased its stake in shares of ATI Inc. (NYSE:ATI) by 8.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 83,652 shares of the basic materials company’s stock after purchasing an additional 6,630 shares during the period. Advisors Asset Management Inc.’s holdings in ATI were worth $4,604,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mountaineer Partners Management LLC boosted its holdings in shares of ATI by 4,401.2% during the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock valued at $629,683,000 after purchasing an additional 9,201,818 shares during the last quarter. Raymond James Financial Inc. bought a new position in ATI during the fourth quarter valued at approximately $44,155,000. Forest Avenue Capital Management LP purchased a new position in ATI during the 3rd quarter valued at approximately $28,700,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in ATI by 177.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 451,982 shares of the basic materials company’s stock worth $30,242,000 after acquiring an additional 289,229 shares during the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of ATI during the 3rd quarter worth approximately $18,928,000.

Wall Street Analyst Weigh In

ATI has been the topic of several research reports. Benchmark boosted their price target on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Barclays boosted their target price on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Susquehanna lifted their price target on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. Finally, StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.00.

ATI Stock Performance

ATI stock opened at $52.30 on Thursday. 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 capitalization of $7.44 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14. ATI Inc. has a 1-year low of $47.58 and a 1-year high of $68.92. The company’s 50-day moving average is $57.57 and its 200 day moving average is $58.85.

ATI (NYSE:ATI) last released its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Research analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Insider Transactions at ATI

In other news, SVP Tina Killough Busch sold 9,900 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the transaction, the senior vice president now directly owns 25,994 shares in the company, valued at approximately $1,726,261.54. This represents a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.

ATI Company 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.