Norges Bank Acquires Shares of 1,545,180 ATI Inc. (NYSE:ATI)

Norges Bank purchased a new position in shares of ATI Inc. (NYSE:ATI - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,545,180 shares of the basic materials company's stock, valued at approximately $85,047,000. Norges Bank owned approximately 1.08% of ATI as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. NEOS Investment Management LLC increased its position in ATI by 22.9% in the 4th quarter. NEOS Investment Management LLC now owns 77,616 shares of the basic materials company's stock valued at $4,272,000 after buying an additional 14,454 shares in the last quarter. EFG Asset Management North America Corp. increased its holdings in shares of ATI by 59.0% during the fourth quarter. EFG Asset Management North America Corp. now owns 45,530 shares of the basic materials company's stock valued at $2,507,000 after acquiring an additional 16,902 shares in the last quarter. EntryPoint Capital LLC raised its position in shares of ATI by 25.1% during the fourth quarter. EntryPoint Capital LLC now owns 7,049 shares of the basic materials company's stock worth $388,000 after purchasing an additional 1,416 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in shares of ATI by 26.8% in the 4th quarter. Segall Bryant & Hamill LLC now owns 170,396 shares of the basic materials company's stock worth $9,379,000 after purchasing an additional 36,005 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in ATI by 8.5% in the 4th quarter. Prudential Financial Inc. now owns 142,652 shares of the basic materials company's stock valued at $8,013,000 after purchasing an additional 11,135 shares during the period.

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Analysts Set New Price Targets

Several research firms have weighed in on ATI. 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. Barclays upped their target price on shares of ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. StockNews.com upgraded ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Benchmark increased their price objective on ATI from $80.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

ATI Stock Performance

Shares of ATI stock traded down $0.50 during mid-day trading on Monday, hitting $42.50. 3,337,193 shares of the stock were exchanged, compared to its average volume of 1,646,722. ATI Inc. has a 12 month low of $39.23 and a 12 month high of $68.92. The company has a 50-day simple moving average of $56.02 and a 200 day simple moving average of $57.90. The company has a market capitalization of $6.00 billion, a P/E ratio of 16.67, a P/E/G 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 (NYSE:ATI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.19. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. The business's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Sell-side analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Activity at ATI

In related 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is owned by company insiders.

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.