Insight Wealth Strategies LLC Increases Stock Position in ATI Inc. (NYSE:ATI)

Insight Wealth Strategies LLC boosted its stake in ATI Inc. (NYSE:ATIFree Report) by 25.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 46,905 shares of the basic materials company’s stock after buying an additional 9,569 shares during the quarter. Insight Wealth Strategies LLC’s holdings in ATI were worth $2,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ATI. Palestra Capital Management LLC increased its stake in ATI by 839.0% in the third quarter. Palestra Capital Management LLC now owns 2,190,728 shares of the basic materials company’s stock valued at $90,148,000 after purchasing an additional 1,957,416 shares during the period. Capital International Investors increased its stake in shares of ATI by 13.7% during the second quarter. Capital International Investors now owns 15,203,027 shares of the basic materials company’s stock worth $672,430,000 after acquiring an additional 1,827,961 shares during the period. Norges Bank acquired a new position in shares of ATI during the fourth quarter worth about $50,336,000. State Street Corp increased its stake in shares of ATI by 14.8% during the first quarter. State Street Corp now owns 9,941,032 shares of the basic materials company’s stock worth $266,817,000 after acquiring an additional 1,279,827 shares during the period. Finally, 1832 Asset Management L.P. acquired a new position in shares of ATI during the first quarter worth about $49,299,000.

Insider Buying and Selling at ATI

In other ATI news, insider Elliot S. Davis sold 1,789 shares of ATI stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $43.06, for a total value of $77,034.34. Following the transaction, the insider now owns 136,050 shares in the company, valued at approximately $5,858,313. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ATI news, insider Elliot S. Davis sold 1,789 shares of ATI stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $43.06, for a total value of $77,034.34. Following the transaction, the insider now owns 136,050 shares in the company, valued at approximately $5,858,313. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Timothy J. Harris sold 6,325 shares of ATI stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.44, for a total transaction of $268,433.00. Following the completion of the transaction, the vice president now owns 109,331 shares in the company, valued at approximately $4,640,007.64. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ATI. KeyCorp upped their target price on shares of ATI from $49.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. TheStreet upgraded shares of ATI from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, Benchmark reaffirmed a “buy” rating and issued a $53.00 price target on shares of ATI in a report on Monday, December 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.80.

Read Our Latest Analysis on ATI

ATI Price Performance

Shares of ATI stock traded up $0.20 during trading hours on Thursday, hitting $48.80. The company’s stock had a trading volume of 1,283,812 shares, compared to its average volume of 1,452,498. The business has a fifty day moving average of $44.88 and a 200-day moving average of $43.13. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 19.45 and a beta of 1.21. ATI Inc. has a twelve month low of $34.10 and a twelve month high of $51.95. The company has a current ratio of 2.80, a quick ratio of 1.53 and a debt-to-equity ratio of 1.45.

ATI (NYSE:ATIGet Free Report) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. ATI had a net margin of 8.81% and a return on equity of 24.64%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business earned $0.53 earnings per share. ATI’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts anticipate that ATI Inc. will post 2.34 EPS for the current year.

ATI announced that its board has initiated a stock buyback program on Wednesday, November 29th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the basic materials company to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

ATI Company Profile

(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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Institutional Ownership by Quarter for ATI (NYSE:ATI)

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