Envestnet Portfolio Solutions Inc. Increases Position in ATI Inc. (NYSE:ATI)

Envestnet Portfolio Solutions Inc. grew its position in ATI Inc. (NYSE:ATI - Free Report) by 35.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,926 shares of the basic materials company's stock after purchasing an additional 6,299 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in ATI were worth $1,317,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ATI. Mountaineer Partners Management LLC boosted its holdings in ATI by 4,401.2% during the third quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company's stock valued at $629,683,000 after acquiring an additional 9,201,818 shares during the period. Geode Capital Management LLC increased its holdings in shares of ATI by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company's stock worth $130,709,000 after purchasing an additional 5,165 shares during the period. Channing Capital Management LLC lifted its stake 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 valued at $92,162,000 after buying an additional 226,977 shares during the period. Charles Schwab Investment Management Inc. increased its stake in ATI by 14.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company's stock valued at $86,031,000 after acquiring an additional 191,823 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of ATI by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 891,152 shares of the basic materials company's stock valued at $49,049,000 after purchasing an additional 12,907 shares in the last quarter.

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Analyst Ratings Changes

Several analysts have recently weighed in on ATI shares. Barclays lifted their target price on shares of ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. StockNews.com raised shares of ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Benchmark lifted their target price on ATI from $80.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Susquehanna increased their price objective on shares of ATI from $70.00 to $73.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. 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 company. According to data from MarketBeat, ATI has a consensus rating of "Moderate Buy" and an average target price of $75.00.

Insider Transactions at ATI

In other news, SVP Tina Killough Busch sold 9,900 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total value of $657,459.00. Following the completion of the transaction, the senior vice president now directly owns 25,994 shares of the company's stock, valued at $1,726,261.54. This represents a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.71% of the stock is owned by insiders.

ATI Price Performance

ATI stock traded down $0.23 during midday trading on Wednesday, reaching $54.01. The company's stock had a trading volume of 1,732,662 shares, compared to its average volume of 2,105,825. The business has a 50-day moving average price of $57.38 and a 200-day moving average price of $58.63. The stock has a market cap of $7.68 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14. ATI Inc. has a 52 week low of $47.90 and a 52 week high of $68.92. 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 released its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.19. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that ATI Inc. will post 2.89 EPS for the current 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.