Cartenna Capital LP Purchases Shares of 442,746 ATI Inc. (NYSE:ATI)

Cartenna Capital LP acquired a new position in ATI Inc. (NYSE:ATI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 442,746 shares of the basic materials company's stock, valued at approximately $24,369,000. ATI accounts for approximately 1.2% of Cartenna Capital LP's portfolio, making the stock its 23rd largest holding. Cartenna Capital LP owned 0.31% of ATI at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Capital International Investors boosted its stake in ATI by 5.4% in the 4th quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company's stock worth $875,190,000 after purchasing an additional 817,182 shares during the period. Vanguard Group Inc. lifted its holdings in shares of ATI by 15.2% in the fourth quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company's stock worth $844,061,000 after buying an additional 2,020,313 shares in the last quarter. Capital World Investors boosted its position in shares of ATI by 100.5% during the fourth quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company's stock worth $378,432,000 after acquiring an additional 3,446,919 shares during the last quarter. Invesco Ltd. grew its stake in ATI by 4.5% during the fourth quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company's stock valued at $258,495,000 after acquiring an additional 203,742 shares in the last quarter. Finally, Dendur Capital LP increased its holdings in ATI by 601.7% in the 4th quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company's stock valued at $196,328,000 after acquiring an additional 3,058,628 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have commented on the stock. Benchmark reissued a "buy" rating and set a $81.00 price objective on shares of ATI in a report on Monday. Barclays raised their price target on ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, February 10th. StockNews.com raised ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. KeyCorp upgraded ATI from a "sector weight" rating to an "overweight" rating and set a $55.00 target price for the company in a research report on Wednesday. Finally, Susquehanna boosted their price target on shares of ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.29.

Insider Buying and Selling

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the transaction, the senior vice president now directly owns 25,994 shares in the company, valued at $1,726,261.54. This represents a 27.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

ATI Trading Up 10.7 %

ATI stock opened at $50.49 on Thursday. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $68.92. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth 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. The firm's fifty day simple moving average is $51.87 and its two-hundred day simple moving average is $56.21.

ATI (NYSE:ATI - Get Free Report) last issued 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 company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm posted $0.64 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. As a group, analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current year.

About ATI

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.

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