Cinctive Capital Management LP Invests $796,000 in ATI Inc. (NYSE:ATI)

Cinctive Capital Management LP purchased a new stake in shares of ATI Inc. (NYSE:ATI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,463 shares of the basic materials company's stock, valued at approximately $796,000.

A number of other hedge funds have also modified their holdings of ATI. Vanguard Group Inc. raised its stake in ATI by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company's stock valued at $844,061,000 after purchasing an additional 2,020,313 shares during the period. Norges Bank purchased a new stake in ATI during the 4th quarter valued at approximately $85,047,000. Raymond James Financial Inc. bought a new stake in shares of ATI during the fourth quarter valued at approximately $44,155,000. Channing Capital Management LLC lifted its holdings in shares of ATI by 15.7% in the fourth quarter. Channing Capital Management LLC now owns 1,674,461 shares of the basic materials company's stock worth $92,162,000 after buying an additional 226,977 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of ATI by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 2,150,204 shares of the basic materials company's stock worth $118,389,000 after buying an additional 197,270 shares in the last quarter.

Insider Activity

In other news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total transaction of $657,459.00. Following the transaction, the senior vice president now directly owns 25,994 shares in the company, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.71% of the company's stock.

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Analysts Set New Price Targets

ATI has been the subject of several research analyst reports. Barclays raised their target price on shares of ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Benchmark lifted their target price on ATI from $80.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Susquehanna boosted their target price on ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a research report on Wednesday, February 5th. Finally, StockNews.com upgraded ATI from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, ATI presently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

ATI Trading Down 1.2 %

Shares of ATI traded down $0.50 during trading hours on Monday, reaching $42.50. 3,337,193 shares of the company traded hands, compared to its average volume of 1,646,719. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 0.85 and a beta of 0.80. ATI Inc. has a 12-month low of $39.48 and a 12-month high of $68.92. The stock's fifty day moving average price is $56.30 and its 200 day moving average price is $58.06. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88.

ATI (NYSE:ATI - Get Free Report) last issued its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.19. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 EPS. Sell-side analysts forecast that ATI Inc. will post 2.89 earnings per share for the current year.

ATI Company 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.