Vanguard Group Inc. raised its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,335,409 shares of the basic materials company's stock after acquiring an additional 2,020,313 shares during the quarter. Vanguard Group Inc. owned approximately 10.75% of ATI worth $844,061,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in ATI. Charles Schwab Investment Management Inc. lifted its holdings in ATI by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company's stock worth $86,031,000 after purchasing an additional 191,823 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of ATI during the third quarter valued at approximately $765,000. Franklin Resources Inc. lifted its holdings 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 worth $27,993,000 after buying an additional 61,999 shares in the last quarter. Covea Finance boosted its position in shares of ATI by 32.7% during the fourth quarter. Covea Finance now owns 65,000 shares of the basic materials company's stock worth $3,578,000 after acquiring an additional 16,000 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of ATI by 38.4% during the third quarter. Bank of Montreal Can now owns 157,254 shares of the basic materials company's stock worth $10,421,000 after acquiring an additional 43,648 shares during the last quarter.
ATI Trading Down 9.4 %
Shares of ATI traded down $5.07 during midday trading on Thursday, hitting $48.89. The stock had a trading volume of 3,025,466 shares, compared to its average volume of 1,626,132. ATI Inc. has a 1 year low of $47.90 and a 1 year high of $68.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. The stock's 50 day moving average is $56.61 and its 200 day moving average is $58.25. The firm has a market cap of $6.95 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14.
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 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 analyst estimates of $1.07 billion. During the same period in the prior year, the company posted $0.64 EPS. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts forecast that ATI Inc. will post 2.89 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have commented on ATI shares. StockNews.com upgraded shares of ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Barclays boosted their target price on ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Susquehanna boosted their price target on shares of ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a research report on Wednesday, February 5th. Finally, Benchmark boosted their target price on shares of ATI from $80.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $75.00.
View Our Latest Research Report on ATI
Insider Buying and Selling
In related news, SVP Tina Killough Busch sold 9,900 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were 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 of the company's stock, valued at $1,726,261.54. This trade represents a 27.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.71% of the stock is owned by corporate insiders.
ATI Profile
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Free Report)
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.
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