ATI Inc. $ATI Holdings Raised by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in ATI Inc. (NYSE:ATI) by 22.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 40,458 shares of the basic materials company’s stock after purchasing an additional 7,495 shares during the quarter. Quantinno Capital Management LP’s holdings in ATI were worth $5,885,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ATI. State Street Corp raised its stake in shares of ATI by 7.4% in the 3rd quarter. State Street Corp now owns 6,042,244 shares of the basic materials company’s stock valued at $491,476,000 after acquiring an additional 415,479 shares in the last quarter. Capital Research Global Investors boosted its position in ATI by 12.0% during the fourth quarter. Capital Research Global Investors now owns 3,611,724 shares of the basic materials company’s stock worth $414,481,000 after purchasing an additional 386,754 shares during the period. Invesco Ltd. grew its holdings in ATI by 7.4% during the fourth quarter. Invesco Ltd. now owns 3,384,924 shares of the basic materials company’s stock valued at $388,454,000 after purchasing an additional 233,010 shares during the last quarter. Norges Bank acquired a new position in ATI during the fourth quarter valued at approximately $198,787,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of ATI by 231.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company’s stock valued at $175,094,000 after purchasing an additional 840,455 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ATI. KeyCorp boosted their price objective on shares of ATI from $175.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. raised their target price on shares of ATI from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $194.00 target price on shares of ATI in a report on Friday, May 1st. Zacks Research upgraded shares of ATI from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. Finally, Wall Street Zen downgraded ATI from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $187.62.

ATI Stock Up 2.5%

ATI opened at $205.16 on Thursday. ATI Inc. has a 1-year low of $70.42 and a 1-year high of $208.71. 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 stock has a market capitalization of $28.00 billion, a price-to-earnings ratio of 67.93, a P/E/G ratio of 1.59 and a beta of 0.98. The business has a 50 day moving average of $190.30 and a 200-day moving average of $163.33.

Insider Buying and Selling

In other ATI news, CEO Kimberly A. Fields sold 59,749 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $179.07, for a total value of $10,699,253.43. Following the completion of the sale, the chief executive officer directly owned 218,014 shares of the company’s stock, valued at $39,039,766.98. This represents a 21.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 192,199 shares of company stock worth $34,601,100. 0.98% of the stock is owned by corporate 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.