CIBC Asset Management Inc boosted its position in shares of ATI Inc. (NYSE:ATI – Get Rating) by 75.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,802 shares of the basic materials company's stock after buying an additional 8,500 shares during the period. CIBC Asset Management Inc's holdings in ATI were worth $531,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Yousif Capital Management LLC acquired a new stake in ATI during the fourth quarter worth about $1,827,000. Barclays PLC boosted its stake in shares of ATI by 71.3% in the 4th quarter. Barclays PLC now owns 177,944 shares of the basic materials company's stock valued at $2,835,000 after purchasing an additional 74,078 shares in the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of ATI in the 4th quarter valued at approximately $161,000. Comerica Bank boosted its stake in shares of ATI by 12.5% in the 1st quarter. Comerica Bank now owns 218,942 shares of the basic materials company's stock valued at $6,559,000 after purchasing an additional 24,289 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in shares of ATI in the 4th quarter valued at approximately $181,000.
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Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on ATI shares. KeyCorp raised their price target on shares of ATI from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, August 5th. Benchmark raised their price target on shares of ATI to $37.00 in a research note on Tuesday. Finally, Wolfe Research upgraded shares of ATI from a "peer perform" rating to an "outperform" rating and set a $33.00 price target on the stock in a research note on Friday, August 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, ATI presently has an average rating of "Moderate Buy" and a consensus price target of $30.14.
ATI Stock Up 2.9 %
NYSE:ATI opened at $29.74 on Wednesday. The firm's 50 day simple moving average is $24.20 and its 200 day simple moving average is $25.24. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.89 and a quick ratio of 1.30. ATI Inc. has a one year low of $13.85 and a one year high of $30.74. The company has a market cap of $3.86 billion, a PE ratio of 743.69 and a beta of 1.31.
ATI (NYSE:ATI – Get Rating) last posted its earnings results on Thursday, August 4th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.37 by $0.17. ATI had a net margin of 0.36% and a return on equity of 21.63%. The business had revenue of $959.50 million for the quarter, compared to the consensus estimate of $837.33 million. During the same period last year, the company earned ($0.12) EPS. The firm's revenue was up 55.7% compared to the same quarter last year. On average, research analysts anticipate that ATI Inc. will post 1.52 earnings per share for the current year.
Insiders Place Their Bets
In other ATI news, CAO Karl D. Schwartz sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer now owns 64,833 shares in the company, valued at approximately $1,620,825. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ATI news, CAO Karl D. Schwartz sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer now owns 64,833 shares in the company, valued at approximately $1,620,825. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James C. Diggs sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $24.00, for a total transaction of $300,000.00. Following the transaction, the director now owns 46,060 shares of the company's stock, valued at approximately $1,105,440. The disclosure for this sale can be found here. Company insiders own 0.82% of the company's stock.
ATI Company Profile
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ATI Inc manufactures and sells specialty materials and components worldwide. The company 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, 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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