ATI Inc. (NYSE:ATI) Shares Acquired by Covea Finance

Covea Finance raised its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 32.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,000 shares of the basic materials company's stock after acquiring an additional 16,000 shares during the quarter. Covea Finance's holdings in ATI were worth $3,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC increased its position in shares of ATI by 3.3% during the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company's stock worth $360,000 after purchasing an additional 172 shares in the last quarter. Beck Capital Management LLC grew its holdings in shares of ATI by 0.8% during the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company's stock worth $1,898,000 after buying an additional 262 shares in the last quarter. KBC Group NV raised its holdings in ATI by 12.9% in the 3rd quarter. KBC Group NV now owns 3,362 shares of the basic materials company's stock valued at $225,000 after acquiring an additional 385 shares during the last quarter. Souders Financial Advisors grew its position in shares of ATI by 6.1% in the third quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company's stock valued at $477,000 after purchasing an additional 411 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of ATI by 86.4% in the third quarter. Quarry LP now owns 889 shares of the basic materials company's stock valued at $59,000 after purchasing an additional 412 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have weighed in on ATI. Deutsche Bank Aktiengesellschaft boosted their price objective on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. Susquehanna dropped their price objective on shares of ATI from $75.00 to $70.00 and set a "positive" rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of ATI from a "hold" rating to a "sell" rating in a research note on Thursday, January 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $73.71.

ATI Trading Up 1.0 %

Shares of ATI traded up $0.57 during trading on Wednesday, reaching $57.06. 849,929 shares of the company traded hands, compared to its average volume of 1,286,881. The stock has a 50-day simple moving average of $57.04 and a 200-day simple moving average of $60.14. The stock has a market cap of $8.14 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97.

ATI (NYSE:ATI - Get Free Report) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted $0.55 EPS. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts anticipate that ATI Inc. will post 2.27 earnings per share for the current year.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the transaction, the chairman now owns 436,443 shares of the company's stock, valued at approximately $25,745,772.57. This trade represents a 5.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Tina Killough Busch sold 2,598 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the sale, the senior vice president now directly owns 21,553 shares in the company, valued at approximately $1,293,611.06. The trade was a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.71% of the company's stock.

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.