Gabelli Funds LLC Invests $798,000 in ATI Inc. (NYSE:ATI)

Gabelli Funds LLC acquired a new position in shares of ATI Inc. (NYSE:ATI - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,500 shares of the basic materials company's stock, valued at approximately $798,000.

Other hedge funds also recently bought and sold shares of the company. MML Investors Services LLC increased its position in ATI by 16.7% during the 3rd quarter. MML Investors Services LLC now owns 6,311 shares of the basic materials company's stock worth $422,000 after purchasing an additional 904 shares in the last quarter. Franklin Resources Inc. raised its position in shares of ATI by 16.2% in the third quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company's stock valued at $27,993,000 after buying an additional 61,999 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in ATI during the third quarter worth approximately $3,088,000. ORG Wealth Partners LLC purchased a new stake in ATI in the 4th quarter worth approximately $25,000. Finally, Fragasso Financial Advisors Inc purchased a new position in ATI during the fourth quarter worth about $403,000.

Insider Buying and Selling

In other news, SVP Tina Killough Busch sold 9,900 shares of the firm'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 in the company, valued at $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. 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 currently owned by insiders.

ATI Stock Up 4.1 %

Shares of ATI stock traded up $2.06 during trading hours on Thursday, reaching $52.47. The company had a trading volume of 1,138,533 shares, compared to its average volume of 1,692,137. The company has a market capitalization of $7.40 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 0.85 and a beta of 0.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $68.92. The stock's fifty day simple moving average is $51.87 and its 200 day simple moving average is $56.21.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (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 during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $0.64 earnings per share. ATI's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.