Legal & General Group Plc Acquires 16,830 Shares of ATI Inc. (NYSE:ATI)

Legal & General Group Plc raised its position in ATI Inc. (NYSE:ATI - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,083 shares of the basic materials company's stock after buying an additional 16,830 shares during the quarter. Legal & General Group Plc owned 0.28% of ATI worth $22,076,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc lifted its stake in shares of ATI by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company's stock valued at $215,000 after purchasing an additional 192 shares during the period. Pier 88 Investment Partners LLC increased its stake in shares of ATI by 3.0% in the 4th quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company's stock valued at $419,000 after acquiring an additional 220 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of ATI by 2.1% during the 4th quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company's stock valued at $643,000 after acquiring an additional 240 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 in the last quarter. Finally, Arizona State Retirement System grew its holdings in ATI by 0.8% in the fourth quarter. Arizona State Retirement System now owns 36,122 shares of the basic materials company's stock worth $1,988,000 after purchasing an additional 289 shares during the period.

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Insider Activity at ATI

In other ATI 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 value of $657,459.00. Following the completion of the transaction, the senior vice president now owns 25,994 shares in the company, valued at $1,726,261.54. This trade represents a 27.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ATI. StockNews.com raised shares of ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. Barclays raised 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. Benchmark increased 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. Finally, Susquehanna upped their price objective on shares of ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $75.00.

ATI Stock Performance

Shares of NYSE:ATI traded down $0.40 during midday trading on Tuesday, reaching $47.23. The company had a trading volume of 1,199,781 shares, compared to its average volume of 1,668,543. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $68.92. The company's 50 day moving average price is $53.73 and its 200 day moving average price is $56.95. 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 cap of $6.66 billion, a P/E ratio of 18.52, a P/E/G ratio of 0.85 and a beta of 0.80.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, topping 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 company had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. ATI's revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.

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.