Bridgewater Associates LP Takes $4.22 Million Position in ATI Inc. (NYSE:ATI)

Bridgewater Associates LP purchased a new stake in shares of ATI Inc. (NYSE:ATI) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 76,732 shares of the basic materials company’s stock, valued at approximately $4,223,000. Bridgewater Associates LP owned 0.05% of ATI at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. MML Investors Services LLC lifted its position in shares of ATI by 16.7% in the third quarter. MML Investors Services LLC now owns 6,311 shares of the basic materials company’s stock worth $422,000 after purchasing an additional 904 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of ATI by 16.2% during the 3rd quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock valued at $27,993,000 after buying an additional 61,999 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of ATI during the 3rd quarter valued at $3,088,000. ORG Wealth Partners LLC acquired a new position in shares of ATI in the fourth quarter worth $25,000. Finally, Fragasso Financial Advisors Inc acquired a new position in shares of ATI in the fourth quarter worth $403,000.

ATI Trading Down 0.5 %

NYSE:ATI opened at $45.51 on Friday. The company’s 50 day moving average is $53.04 and its 200-day moving average is $56.73. 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 $39.23 and a 12 month high of $68.92. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 0.85 and a beta of 0.80.

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

Insider Activity at ATI

In related news, SVP Tina Killough Busch sold 9,900 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 25,994 shares in the company, valued at $1,726,261.54. This represents a 27.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ATI has been the topic of a number of recent research reports. Susquehanna boosted their target price on ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. Benchmark boosted their price target on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Barclays boosted their target price on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.