New Age Alpha Advisors LLC Buys Shares of 8,416 ATI Inc. (NYSE:ATI)

New Age Alpha Advisors LLC bought a new position in shares of ATI Inc. (NYSE:ATI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,416 shares of the basic materials company’s stock, valued at approximately $463,000.

A number of other hedge funds also recently made changes to their positions in the stock. Mountaineer Partners Management LLC lifted its stake in ATI by 4,401.2% in the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock valued at $629,683,000 after purchasing an additional 9,201,818 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of ATI by 15.2% during the fourth quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock worth $844,061,000 after buying an additional 2,020,313 shares in the last quarter. Norges Bank bought a new position in shares of ATI in the 4th quarter valued at $85,047,000. Raymond James Financial Inc. acquired a new stake in shares of ATI during the 4th quarter valued at $44,155,000. Finally, Holocene Advisors LP bought a new stake in ATI during the 3rd quarter worth $18,928,000.

ATI Price Performance

ATI stock opened at $52.59 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 0.85 and a beta of 1.14. The company’s fifty day simple moving average is $56.88 and its 200 day simple moving average is $58.34. ATI Inc. has a 12-month low of $47.90 and a 12-month high of $68.92.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Benchmark boosted their target price on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Barclays raised their price target on shares of ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Susquehanna boosted their price objective on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.00.

Insider Transactions at ATI

In related news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total transaction of $657,459.00. Following the transaction, the senior vice president now directly owns 25,994 shares of the company’s stock, valued at $1,726,261.54. This represents a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.