26,600 Shares in ATI Inc. (NYSE:ATI) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in ATI Inc. (NYSE:ATI) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 26,600 shares of the basic materials company’s stock, valued at approximately $1,464,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ATI. Charles Schwab Investment Management Inc. lifted its position 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 valued at $86,031,000 after acquiring an additional 191,823 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of ATI in the 3rd quarter valued at about $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 valued at $27,993,000 after purchasing an additional 61,999 shares in the last quarter. Covea Finance grew its holdings 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 buying an additional 16,000 shares in the last quarter. Finally, Bank of Montreal Can raised its position in ATI by 38.4% in the 3rd quarter. Bank of Montreal Can now owns 157,254 shares of the basic materials company’s stock valued at $10,421,000 after buying an additional 43,648 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ATI. Benchmark raised their price target on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays boosted their price target on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Susquehanna lifted their target price on ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, ATI has an average rating of “Moderate Buy” and an average target price of $75.00.

ATI Price Performance

NYSE:ATI opened at $51.01 on Friday. 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 12-month low of $47.90 and a 12-month high of $68.92. The stock’s 50 day moving average price is $57.10 and its two-hundred day moving average price is $58.50. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 0.85 and a beta of 1.14.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.19. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. On average, analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current year.

Insider Buying and Selling at ATI

In other news, SVP Tina Killough Busch sold 9,900 shares of the business’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 sale, the senior vice president now owns 25,994 shares in the company, valued at $1,726,261.54. The trade was a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.71% of the company’s stock.

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.