Fragasso Financial Advisors Inc Invests $403,000 in ATI Inc. (NYSE:ATI)

Fragasso Financial Advisors Inc purchased a new stake in shares of ATI Inc. (NYSE:ATI) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 7,323 shares of the basic materials company’s stock, valued at approximately $403,000.

Several other large investors have also recently added to or reduced their stakes in ATI. Mountaineer Partners Management LLC raised its holdings in shares of ATI by 4,401.2% during the third quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock worth $629,683,000 after purchasing an additional 9,201,818 shares during the period. Dimensional Fund Advisors LP grew its position in shares of ATI by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after buying an additional 102,691 shares during the last quarter. Geode Capital Management LLC raised its stake in ATI by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock worth $130,709,000 after acquiring an additional 5,165 shares during the period. Millennium Management LLC lifted its holdings in ATI by 165.1% in the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock worth $107,846,000 after acquiring an additional 1,211,273 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in ATI by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company’s stock valued at $91,750,000 after acquiring an additional 24,224 shares during the period.

ATI Stock Performance

ATI stock opened at $54.98 on Tuesday. The company has a 50-day simple moving average of $56.99 and a 200 day simple moving average of $60.14. The company has a market capitalization of $7.84 billion, a P/E ratio of 21.15, a PEG ratio of 1.95 and a beta of 1.12. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. ATI Inc. has a fifty-two week low of $38.04 and a fifty-two week high of $68.92.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the company posted $0.55 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. Sell-side analysts predict that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ATI. Susquehanna dropped their price target on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, StockNews.com cut shares of ATI from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, ATI presently has an average rating of “Hold” and an average target price of $73.71.

Insider Buying and Selling at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the completion of the sale, the chairman now directly owns 436,443 shares of the company’s stock, valued at $25,745,772.57. This represents a 5.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tina Killough Busch sold 2,598 shares of ATI stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the completion of the transaction, the senior vice president now owns 21,553 shares in the company, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate 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.