Capital World Investors Has $378.43 Million Position in ATI Inc. (NYSE:ATI)

Capital World Investors grew its holdings in ATI Inc. (NYSE:ATI - Free Report) by 100.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,875,576 shares of the basic materials company's stock after acquiring an additional 3,446,919 shares during the period. Capital World Investors owned about 4.82% of ATI worth $378,432,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ATI. MML Investors Services LLC raised its position in shares of ATI by 16.7% in the 3rd quarter. MML Investors Services LLC now owns 6,311 shares of the basic materials company's stock valued at $422,000 after purchasing an additional 904 shares in the last quarter. Franklin Resources Inc. boosted its stake in ATI by 16.2% during the 3rd quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company's stock valued at $27,993,000 after acquiring an additional 61,999 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in ATI during the 3rd quarter worth $3,088,000. ORG Wealth Partners LLC bought a new stake in shares of ATI in the 4th quarter worth about $25,000. Finally, Fragasso Financial Advisors Inc acquired a new stake in shares of ATI in the 4th quarter valued at about $403,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. KeyCorp upgraded shares of ATI from a "sector weight" rating to an "overweight" rating and set a $55.00 target price for the company in a research note on Wednesday. Barclays raised 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. StockNews.com raised ATI from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Susquehanna raised their price target on ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a report on Wednesday, February 5th. Finally, Benchmark reiterated a "buy" rating and issued a $81.00 target price on shares of ATI in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, ATI currently has a consensus rating of "Moderate Buy" and an average price target of $73.29.

Insider Buying and Selling at ATI

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was 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 directly owns 25,994 shares of the company's stock, valued at approximately $1,726,261.54. The trade was a 27.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.

ATI Stock Performance

Shares of ATI stock traded up $0.60 during trading hours on Friday, reaching $53.05. 1,178,074 shares of the company's stock were exchanged, compared to its average volume of 1,692,350. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $68.92. The business has a fifty day moving average price of $51.70 and a 200-day moving average price of $56.13. The stock has a market capitalization of $7.48 billion, a P/E ratio of 20.80, a P/E/G ratio of 0.85 and a beta of 0.80. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, topping 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 company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $0.64 EPS. The company's quarterly revenue was up 10.2% on a year-over-year basis. Analysts predict 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.