KLP Kapitalforvaltning AS Acquires New Position in ATI Inc. (NYSE:ATI)

KLP Kapitalforvaltning AS bought a new stake in ATI Inc. (NYSE:ATI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 26,600 shares of the basic materials company's stock, valued at approximately $1,464,000.

Other institutional investors have also recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new position in ATI in the 4th quarter valued at $25,000. Quarry LP raised its position 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 buying an additional 412 shares during the last quarter. Mainstream Capital Management LLC purchased a new position in shares of ATI in the fourth quarter worth about $94,000. EverSource Wealth Advisors LLC boosted its position in ATI by 20.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company's stock worth $95,000 after acquiring an additional 288 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in ATI by 236.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company's stock valued at $132,000 after acquiring an additional 1,690 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Benchmark raised their target price on shares of ATI from $80.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Barclays lifted their price objective on ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a research 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. Finally, Susquehanna raised their target price on ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, ATI has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

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ATI Trading Up 2.7 %

ATI stock traded up $1.42 during midday trading on Wednesday, hitting $54.02. 1,487,482 shares of the company's stock were exchanged, compared to its average volume of 1,617,825. ATI Inc. has a 1-year low of $47.90 and a 1-year 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. The stock has a market capitalization of $7.68 billion, a PE ratio of 21.18, a P/E/G ratio of 0.85 and a beta of 1.14. The business has a 50-day simple moving average of $56.81 and a two-hundred day simple moving average of $58.31.

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, topping analysts' consensus estimates of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $0.64 EPS. The company's quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insider Transactions at ATI

In related news, SVP Tina Killough Busch sold 9,900 shares of the business's stock in a transaction 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 sale, the senior vice president now owns 25,994 shares in the company, valued at approximately $1,726,261.54. The trade was a 27.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.71% of the company's stock.

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.