ATI Inc. (NYSE:ATI) Short Interest Up 14.3% in January

ATI Inc. (NYSE:ATI) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 3,360,000 shares, an increase of 14.3% from the December 31st total of 2,940,000 shares. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is presently 2.3 days.

ATI Stock Down 1.1 %

Shares of NYSE:ATI opened at $57.16 on Monday. The firm has a market capitalization of $8.15 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.52 and a beta of 1.10. The stock has a 50 day moving average price of $57.01 and a 200-day moving average price of $60.14. ATI has a 52-week low of $38.04 and a 52-week high of $68.92. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Susquehanna lowered their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. StockNews.com lowered ATI from a “hold” rating to a “sell” rating in a research report on Wednesday, January 29th. Finally, KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Two 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 has a consensus rating of “Hold” and an average target price of $73.71.

Insider Buying and Selling

In other news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction 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 sale, the chairman now 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 disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ATI

Institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new stake in shares of ATI in the 3rd quarter worth about $765,000. Franklin Resources Inc. boosted its stake in ATI by 16.2% during the third quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock worth $27,993,000 after acquiring an additional 61,999 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in ATI by 16.9% in the third quarter. Advisors Asset Management Inc. now owns 77,022 shares of the basic materials company’s stock worth $5,154,000 after purchasing an additional 11,154 shares during the period. Covea Finance increased its stake 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 valued at $3,578,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Forest Avenue Capital Management LP purchased a new position in shares of ATI during the third quarter valued at approximately $28,700,000.

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.