ATI Inc. $ATI Stock Position Lifted by Ritholtz Wealth Management

Ritholtz Wealth Management grew its position in shares of ATI Inc. (NYSE:ATI) by 59.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,486 shares of the basic materials company’s stock after purchasing an additional 5,031 shares during the period. Ritholtz Wealth Management’s holdings in ATI were worth $2,554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ATI. BlackRock Inc. purchased a new position in ATI during the 2nd quarter valued at about $3,687,529,000. Bank of America Corp DE purchased a new position in shares of ATI in the second quarter valued at approximately $348,285,000. Bank of New York Mellon Corp purchased a new position in shares of ATI in the second quarter valued at approximately $168,996,000. Arrowstreet Capital Limited Partnership boosted its position in ATI by 231.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company’s stock valued at $175,094,000 after buying an additional 840,455 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of ATI by 1,714.0% in the first quarter. PNC Financial Services Group Inc. now owns 831,736 shares of the basic materials company’s stock worth $120,984,000 after acquiring an additional 785,885 shares in the last quarter.

Insider Buying and Selling at ATI

In other ATI news, Director David J. Morehouse sold 2,485 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $201.61, for a total transaction of $501,000.85. Following the completion of the sale, the director directly owned 35,826 shares of the company’s stock, valued at approximately $7,222,879.86. This trade represents a 6.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kimberly A. Fields sold 24,845 shares of ATI stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $231.19, for a total value of $5,743,915.55. Following the completion of the transaction, the chief executive officer owned 100,719 shares in the company, valued at $23,285,225.61. This trade represents a 19.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 85,830 shares of company stock valued at $18,046,361 in the last ninety days. Insiders own 0.98% of the company’s stock.

ATI Stock Performance

NYSE ATI traded down $6.64 during trading on Friday, reaching $183.52. The company’s stock had a trading volume of 1,345,368 shares, compared to its average volume of 1,913,048. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.27 and a current ratio of 2.77. The firm has a market cap of $24.93 billion, a price-to-earnings ratio of 45.88, a P/E/G ratio of 1.04 and a beta of 1.09. ATI Inc. has a twelve month low of $93.11 and a twelve month high of $243.57. The business’s fifty day moving average price is $184.93 and its 200-day moving average price is $175.82.

ATI (NYSE:ATI) last released its quarterly earnings results on Thursday, October 29th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. ATI had a return on equity of 32.30% and a net margin of 11.08%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company posted $0.85 earnings per share. The business’s revenue was up 26.5% on a year-over-year basis. As a group, analysts anticipate that ATI Inc. will post 5.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ATI. Wells Fargo & Company cut their price target on ATI from $275.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Wall Street Zen upgraded ATI from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Citigroup lifted their price objective on ATI from $229.00 to $240.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings downgraded ATI from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 29th. Finally, BTIG Research upped their target price on shares of ATI from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, ATI presently has a consensus rating of “Buy” and an average target price of $224.56.

ATI Company Profile

ATI Inc. produces specialty materials and components for aerospace and defense, energy, medical, and other industrial markets. Its materials include titanium and titanium alloys, nickel- and cobalt-based alloys, specialty stainless steels, and other engineered metals designed for demanding applications. The company makes products such as sheet, plate, strip, and bar, along with precision forgings, castings, and engineered components. ATI serves customers worldwide through manufacturing and distribution operations in North America and other regions.