ATI Inc. (NYSE:ATI) Shares Acquired by Capital International Investors

Capital International Investors raised its stake in shares of ATI Inc. (NYSE:ATI) by 1.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 15,409,897 shares of the basic materials company’s stock after buying an additional 203,012 shares during the period. Capital International Investors owned about 0.12% of ATI worth $788,524,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its holdings in shares of ATI by 1,393.2% in the fourth quarter. Point72 Asset Management L.P. now owns 1,539,536 shares of the basic materials company’s stock valued at $70,003,000 after acquiring an additional 1,436,436 shares in the last quarter. Norges Bank acquired a new stake in ATI in the fourth quarter worth approximately $55,855,000. Frontier Capital Management Co. LLC boosted its stake in ATI by 19.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock valued at $165,767,000 after purchasing an additional 594,644 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of ATI by 31.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,306,784 shares of the basic materials company’s stock valued at $59,419,000 after purchasing an additional 315,506 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of ATI by 735.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 355,202 shares of the basic materials company’s stock worth $16,151,000 after buying an additional 312,699 shares in the last quarter.

ATI Price Performance

ATI stock traded up $1.26 on Friday, hitting $65.54. 1,257,031 shares of the company’s stock traded hands, compared to its average volume of 1,478,856. ATI Inc. has a 1-year low of $35.03 and a 1-year high of $66.43. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.51 and a beta of 1.07. The stock has a fifty day moving average of $58.42 and a 200-day moving average of $52.14. The company has a current ratio of 2.81, a quick ratio of 1.37 and a debt-to-equity ratio of 1.56.

ATI (NYSE:ATI) last released its earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ATI had a net margin of 8.70% and a return on equity of 23.72%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. On average, analysts forecast that ATI Inc. will post 2.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on ATI. Benchmark raised their target price on ATI from $56.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Barclays raised their price objective on shares of ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 price objective on the stock. KeyCorp increased their target price on shares of ATI from $58.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Finally, BTIG Research began coverage on shares of ATI in a research note on Wednesday, June 26th. They set a “buy” rating and a $70.00 target price for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.20.

ATI 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.