Bowen Hanes & Co. Inc. Buys 1,735 Shares of ATI Inc. (NYSE:ATI)

Bowen Hanes & Co. Inc. increased its position in shares of ATI Inc. (NYSE:ATI) by 0.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,366,915 shares of the basic materials company’s stock after buying an additional 1,735 shares during the quarter. ATI makes up 2.0% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 15th largest holding. Bowen Hanes & Co. Inc.’s holdings in ATI were worth $75,235,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new position in shares of ATI in the third quarter worth about $765,000. Franklin Resources Inc. increased its position in ATI by 16.2% in the 3rd quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock worth $27,993,000 after buying an additional 61,999 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of ATI by 14.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company’s stock worth $86,031,000 after buying an additional 191,823 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of ATI by 16.9% in the third quarter. Advisors Asset Management Inc. now owns 77,022 shares of the basic materials company’s stock valued at $5,154,000 after acquiring an additional 11,154 shares during the period. Finally, Covea Finance grew its stake in shares of ATI by 32.7% in the fourth quarter. Covea Finance now owns 65,000 shares of the basic materials company’s stock worth $3,578,000 after acquiring an additional 16,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

ATI has been the subject of several research analyst reports. Susquehanna upped their target price on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. Benchmark increased their target price on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Barclays lifted their target price on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, StockNews.com raised ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

ATI Stock Performance

NYSE:ATI opened at $50.97 on Thursday. The firm has a market capitalization of $7.25 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14. 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 $47.58 and a 12-month high of $68.92. The firm has a 50-day moving average price of $58.02 and a 200 day moving average price of $59.33.

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

Insider Buying and Selling at ATI

In related news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction dated Thursday, February 6th. The shares were 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. This trade represents a 27.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.