Empowered Funds LLC Has $8.14 Million Stock Holdings in ATI Inc. $ATI

Empowered Funds LLC grew its holdings in ATI Inc. (NYSE:ATI) by 304.6% during the 1st quarter, HoldingsChannel reports. The firm owned 55,970 shares of the basic materials company’s stock after purchasing an additional 42,136 shares during the quarter. Empowered Funds LLC’s holdings in ATI were worth $8,141,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Signature Equity Partners LLC lifted its position in shares of ATI by 208.5% during the 1st quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company’s stock worth $26,000 after buying an additional 123 shares during the last quarter. Summit Securities Group LLC acquired a new stake in ATI in the first quarter valued at about $60,000. Hollencrest Capital Management grew its position in ATI by 283.1% in the first quarter. Hollencrest Capital Management now owns 452 shares of the basic materials company’s stock valued at $66,000 after acquiring an additional 334 shares during the last quarter. Torren Management LLC bought a new position in ATI in the fourth quarter valued at about $52,000. Finally, Clearstead Advisors LLC raised its stake in ATI by 137.3% during the fourth quarter. Clearstead Advisors LLC now owns 598 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 346 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ATI. Wall Street Zen cut shares of ATI from a “buy” rating to a “hold” rating in a report on Tuesday. TD Cowen lifted their price target on shares of ATI from $170.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 13th. BTIG Research upped their price objective on shares of ATI from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Susquehanna upped their price objective on shares of ATI from $185.00 to $215.00 and gave the stock a “positive” rating in a research report on Thursday, July 9th. Finally, KeyCorp increased their price objective on shares of ATI from $175.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $176.78.

ATI Price Performance

ATI stock opened at $187.76 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.17 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $25.62 billion, a PE ratio of 62.17, a P/E/G ratio of 1.45 and a beta of 0.96. ATI Inc. has a 12 month low of $70.42 and a 12 month high of $205.31. The stock has a 50-day moving average price of $188.34 and a two-hundred day moving average price of $161.47.

ATI (NYSE:ATI) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.12. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ATI had a return on equity of 26.44% and a net margin of 9.26%.The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. Analysts expect that ATI Inc. will post 4.49 EPS for the current year.

Insider Buying and Selling

In other ATI news, CEO Kimberly A. Fields sold 31,757 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $190.99, for a total transaction of $6,065,269.43. Following the sale, the chief executive officer directly owned 125,564 shares of the company’s stock, valued at $23,981,468.36. The trade was a 20.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 192,199 shares of company stock worth $34,601,100. 0.98% of the stock is owned by company insiders.

ATI Profile

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.