Wealthfront Advisers LLC Purchases New Position in ATI Inc. (NYSE:ATI)

Wealthfront Advisers LLC acquired a new position in ATI Inc. (NYSE:ATI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,140 shares of the basic materials company's stock, valued at approximately $1,523,000.

Several other hedge funds have also recently bought and sold shares of ATI. ORG Wealth Partners LLC bought a new stake in shares of ATI during the 4th quarter worth about $25,000. Quarry LP lifted its holdings in ATI by 86.4% in the 3rd quarter. Quarry LP now owns 889 shares of the basic materials company's stock worth $59,000 after purchasing an additional 412 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in ATI during the fourth quarter worth approximately $94,000. Smartleaf Asset Management LLC grew its holdings in ATI by 236.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company's stock valued at $132,000 after purchasing an additional 1,690 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of ATI by 137.7% in the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock valued at $144,000 after purchasing an additional 1,516 shares during the period.

ATI Stock Performance

Shares of ATI stock traded up $1.63 during mid-day trading on Wednesday, reaching $52.30. The stock had a trading volume of 2,543,549 shares, compared to its average volume of 1,437,044. The firm has a market cap of $7.44 billion, a PE ratio of 20.51, a P/E/G ratio of 0.85 and a beta of 1.14. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. ATI Inc. has a one year low of $47.58 and a one year high of $68.92. The firm's 50 day simple moving average is $57.64 and its 200 day simple moving average is $58.90.

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ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 earnings per share. On average, analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Insider Activity

In related news, SVP Tina Killough Busch sold 9,900 shares of the firm'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 transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ATI has been the topic of a number of research analyst reports. Benchmark raised their target price on shares of ATI from $80.00 to $81.00 and gave the company 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 note 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, Susquehanna lifted their price target on ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $75.00.

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.