Los Angeles Capital Management LLC bought a new stake in shares of ATI Inc. (NYSE:ATI – Get Rating) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 74,367 shares of the basic materials company's stock, valued at approximately $1,996,000. Los Angeles Capital Management LLC owned about 0.06% of ATI at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ATI. Allspring Global Investments Holdings LLC purchased a new stake in ATI during the fourth quarter valued at approximately $554,000. State of New Jersey Common Pension Fund D increased its holdings in ATI by 20.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 175,211 shares of the basic materials company's stock valued at $2,791,000 after buying an additional 30,231 shares during the last quarter. Yousif Capital Management LLC purchased a new stake in ATI during the fourth quarter valued at approximately $1,827,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ATI by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,213 shares of the basic materials company's stock valued at $274,000 after buying an additional 3,251 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of ATI by 13.1% in the fourth quarter. New York State Common Retirement Fund now owns 1,195,977 shares of the basic materials company's stock worth $19,052,000 after purchasing an additional 138,391 shares in the last quarter.
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Insider Buying and Selling
In related news, Director James C. Diggs sold 12,500 shares of the company's stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $24.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 46,060 shares in the company, valued at $1,105,440. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ATI news, Director James C. Diggs sold 12,500 shares of the stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $24.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 46,060 shares in the company, valued at $1,105,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Karl D. Schwartz sold 2,000 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 64,833 shares of the company's stock, valued at approximately $1,620,825. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.
ATI Price Performance
Shares of NYSE:ATI opened at $29.74 on Wednesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.30 and a current ratio of 2.89. The firm has a fifty day moving average price of $24.20 and a 200 day moving average price of $25.24. ATI Inc. has a fifty-two week low of $13.85 and a fifty-two week high of $30.74. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 743.69 and a beta of 1.31.
ATI (NYSE:ATI – Get Rating) last issued its earnings results on Thursday, August 4th. The basic materials company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.17. ATI had a net margin of 0.36% and a return on equity of 21.63%. The firm had revenue of $959.50 million during the quarter, compared to analyst estimates of $837.33 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. ATI's revenue for the quarter was up 55.7% on a year-over-year basis. As a group, sell-side analysts expect that ATI Inc. will post 1.52 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Wolfe Research raised shares of ATI from a "peer perform" rating to an "outperform" rating and set a $33.00 price objective for the company in a research note on Friday, August 5th. KeyCorp increased their price objective on shares of ATI from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Friday, August 5th. Finally, Benchmark increased their price objective on shares of ATI to $37.00 in a research note on Tuesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.14.
ATI 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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