Empowered Funds LLC Has $8.14 Million Stake in ATI Inc. $ATI

Empowered Funds LLC lifted its position in shares of ATI Inc. (NYSE:ATI) by 304.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,970 shares of the basic materials company’s stock after purchasing an additional 42,136 shares during the period. Empowered Funds LLC’s holdings in ATI were worth $8,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its holdings in ATI by 7.4% in the 3rd quarter. State Street Corp now owns 6,042,244 shares of the basic materials company’s stock valued at $491,476,000 after buying an additional 415,479 shares in the last quarter. Capital Research Global Investors increased its position in ATI by 12.0% during the 4th quarter. Capital Research Global Investors now owns 3,611,724 shares of the basic materials company’s stock worth $414,481,000 after buying an additional 386,754 shares during the period. Invesco Ltd. lifted its holdings in shares of ATI by 7.4% during the fourth quarter. Invesco Ltd. now owns 3,384,924 shares of the basic materials company’s stock worth $388,454,000 after buying an additional 233,010 shares in the last quarter. Norges Bank acquired a new stake in shares of ATI during the fourth quarter worth $198,787,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of ATI by 231.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company’s stock valued at $175,094,000 after acquiring an additional 840,455 shares during the period.

Analysts Set New Price Targets

Several research firms recently commented on ATI. Susquehanna upped their price target on shares of ATI from $185.00 to $215.00 and gave the company a “positive” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. lifted their price objective on shares of ATI from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Wall Street Zen downgraded shares of ATI from a “buy” rating to a “hold” rating in a report on Tuesday. BTIG Research increased their target price on shares of ATI from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, TD Cowen raised their target price on shares of ATI from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $176.78.

ATI Stock Performance

ATI opened at $187.76 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.17 and a current ratio of 2.67. ATI Inc. has a 52-week low of $70.42 and a 52-week high of $205.31. The firm has a market cap of $25.62 billion, a P/E ratio of 62.17, a price-to-earnings-growth ratio of 1.45 and a beta of 0.96. The business’s fifty day moving average is $188.34 and its 200-day moving average is $161.47.

ATI (NYSE:ATI) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. ATI had a return on equity of 26.44% and a net margin of 9.26%.The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. ATI’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts expect that ATI Inc. will post 4.49 EPS for the current fiscal year.

Insider Activity at ATI

In other news, CEO Kimberly A. Fields sold 59,749 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $179.07, for a total value of $10,699,253.43. Following the completion of the transaction, the chief executive officer directly owned 218,014 shares in the company, valued at approximately $39,039,766.98. The trade was a 21.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 192,199 shares of company stock valued at $34,601,100. 0.98% of the stock is currently owned by insiders.

ATI Company Profile

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.