NEOS Investment Management LLC Increases Stock Position in ATI Inc. (NYSE:ATI)

NEOS Investment Management LLC increased its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 22.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,616 shares of the basic materials company's stock after buying an additional 14,454 shares during the quarter. NEOS Investment Management LLC owned 0.05% of ATI worth $4,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in ATI by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company's stock worth $844,061,000 after acquiring an additional 2,020,313 shares during the last quarter. Mountaineer Partners Management LLC boosted its holdings in shares of ATI by 4,401.2% during the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company's stock worth $629,683,000 after buying an additional 9,201,818 shares during the period. Geode Capital Management LLC lifted its holdings in 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 last quarter. Channing Capital Management LLC increased its position in ATI by 15.7% during the 4th quarter. Channing Capital Management LLC now owns 1,674,461 shares of the basic materials company's stock worth $92,162,000 after buying an additional 226,977 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of ATI by 14.0% in 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.

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ATI Trading Up 0.6 %

NYSE:ATI traded up $0.29 during midday trading on Tuesday, reaching $52.32. 265,284 shares of the stock traded hands, compared to its average volume of 1,606,080. The stock has a market capitalization of $7.44 billion, a P/E ratio of 20.48, a PEG ratio of 0.85 and a beta of 1.14. ATI Inc. has a 12 month low of $47.90 and a 12 month high of $68.92. The company has a fifty day moving average of $57.00 and a 200 day moving average of $58.41. 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 (NYSE:ATI - Get Free Report) last announced its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.19. The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. On average, research analysts predict that ATI Inc. will post 2.89 EPS for the current year.

Insider Buying and Selling

In related news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction 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. This represents a 27.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ATI shares. Susquehanna raised their target price on shares of ATI from $70.00 to $73.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. StockNews.com raised ATI from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Benchmark boosted their target price on shares of ATI from $80.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Barclays raised their price objective on shares of ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, ATI presently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

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.