AlphaQuest LLC Has $248,000 Stake in ATI Inc. (NYSE:ATI)

AlphaQuest LLC grew its stake in shares of ATI Inc. (NYSE:ATI) by 1,683.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,511 shares of the basic materials company’s stock after purchasing an additional 4,258 shares during the period. AlphaQuest LLC’s holdings in ATI were worth $248,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ATI. Amundi raised its stake in shares of ATI by 231.2% in the fourth quarter. Amundi now owns 73,326 shares of the basic materials company’s stock valued at $4,075,000 after purchasing an additional 51,184 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in ATI by 32.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 105,948 shares of the basic materials company’s stock valued at $5,831,000 after buying an additional 25,964 shares during the period. Edgestream Partners L.P. acquired a new position in shares of ATI in the 4th quarter valued at $4,331,000. Raymond James Financial Inc. bought a new position in shares of ATI during the 4th quarter worth about $44,155,000. Finally, Arizona State Retirement System boosted its position in shares of ATI by 0.8% during the 4th quarter. Arizona State Retirement System now owns 36,122 shares of the basic materials company’s stock valued at $1,988,000 after acquiring an additional 289 shares in the last quarter.

Insider Activity

In other news, SVP Tina Killough Busch sold 9,900 shares of ATI stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total transaction of $657,459.00. Following the completion of the sale, the senior vice president now owns 25,994 shares in the company, valued at $1,726,261.54. The trade was a 27.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ATI. Benchmark raised their price target on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Barclays increased their target price on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Susquehanna upped their price objective on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.00.

ATI Stock Up 3.3 %

Shares of NYSE:ATI opened at $51.63 on Friday. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The firm has a market cap of $7.34 billion, a P/E ratio of 20.25, a P/E/G ratio of 0.85 and a beta of 1.14. ATI Inc. has a 12 month low of $47.58 and a 12 month high of $68.92. The company’s 50-day moving average price is $57.83 and its two-hundred day moving average price is $59.12.

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

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.