Freemont Management S.A. purchased a new stake in ATI Inc. (NYSE:ATI – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,828 shares of the basic materials company's stock, valued at approximately $183,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of ATI by 9.8% during the fourth quarter. Capital International Investors now owns 12,176,850 shares of the basic materials company's stock worth $193,977,000 after purchasing an additional 1,089,416 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of ATI by 17.3% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,540,724 shares of the basic materials company's stock worth $72,334,000 after purchasing an additional 669,769 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of ATI during the first quarter worth approximately $9,267,000. Squarepoint Ops LLC lifted its position in shares of ATI by 194.5% during the fourth quarter. Squarepoint Ops LLC now owns 442,188 shares of the basic materials company's stock worth $7,044,000 after purchasing an additional 292,031 shares in the last quarter. Finally, Buckingham Strategic Partners acquired a new position in shares of ATI during the fourth quarter worth approximately $4,480,000.
Get ATI alerts:Analyst Ratings Changes
A number of brokerages have recently issued reports on ATI. KeyCorp reduced their target price on shares of ATI from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report on Friday, July 8th. Wolfe Research raised shares of ATI from a "peer perform" rating to an "outperform" rating and set a $33.00 price target for the company in a research note on Friday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, ATI has a consensus rating of "Moderate Buy" and a consensus target price of $28.86.
Insider Buying and Selling at ATI
In other ATI news, Director James C. Diggs sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $24.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 46,060 shares of the company's stock, valued at $1,105,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Karl D. Schwartz sold 2,000 shares of the company'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 value of $50,000.00. Following the completion of the transaction, the chief accounting officer now owns 64,833 shares in the company, valued at $1,620,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James C. Diggs sold 12,500 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,105,440. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock.ATI Trading Up 8.1 %
ATI opened at $27.40 on Friday. ATI Inc. has a fifty-two week low of $13.85 and a fifty-two week high of $30.74. The company has a debt-to-equity ratio of 2.15, a current ratio of 2.61 and a quick ratio of 1.25. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -685.00 and a beta of 1.31. The firm has a 50 day simple moving average of $24.08 and a 200 day simple moving average of $25.02.
ATI (NYSE:ATI – Get Rating) last issued its earnings results on Thursday, August 4th. The basic materials company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.37 by $0.17. ATI had a net margin of 0.02% and a return on equity of 11.17%. The firm had revenue of $959.50 million during the quarter, compared to the consensus estimate of $837.33 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The business's quarterly revenue was up 55.7% on a year-over-year basis. On average, sell-side analysts anticipate that ATI Inc. will post 1.52 earnings per share for the current year.
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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