Advisors Asset Management Inc. Purchases 6,630 Shares of ATI Inc. (NYSE:ATI)

Advisors Asset Management Inc. boosted its holdings in ATI Inc. (NYSE:ATI) by 8.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,652 shares of the basic materials company’s stock after acquiring an additional 6,630 shares during the quarter. Advisors Asset Management Inc. owned 0.06% of ATI worth $4,604,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ATI. Charles Schwab Investment Management Inc. boosted its position 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 valued at $86,031,000 after buying an additional 191,823 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of ATI during the 3rd quarter valued at about $765,000. Franklin Resources Inc. grew its stake in shares of ATI by 16.2% in 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 during the period. Covea Finance raised its holdings 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 during the last quarter. Finally, Forest Avenue Capital Management LP bought a new position in ATI during the third quarter valued at approximately $28,700,000.

ATI Stock Up 3.2 %

ATI stock opened at $52.30 on Thursday. The business’s 50-day moving average price is $57.57 and its 200-day moving average price is $58.85. The stock has a market cap of $7.44 billion, a P/E ratio of 20.51, a PEG 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 twelve month low of $47.58 and a twelve month high of $68.92.

ATI (NYSE:ATI) last released its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.19. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 EPS. On average, equities research analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Insider Activity at ATI

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total value of $657,459.00. Following the completion of the sale, the senior vice president now owns 25,994 shares in the company, valued at approximately $1,726,261.54. This represents a 27.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Benchmark boosted 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. Susquehanna increased their target price on ATI from $70.00 to $73.00 and gave the company a “positive” rating in a report on Wednesday, February 5th. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Barclays increased their price objective on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, ATI has a consensus rating of “Moderate Buy” and an average target price of $75.00.

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.