Frontier Capital Management Co. LLC Acquires 594,644 Shares of ATI Inc. (NYSE:ATI)

Frontier Capital Management Co. LLC boosted its holdings in shares of ATI Inc. (NYSE:ATI) by 19.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,645,644 shares of the basic materials company’s stock after buying an additional 594,644 shares during the quarter. ATI makes up about 1.7% of Frontier Capital Management Co. LLC’s holdings, making the stock its 7th biggest holding. Frontier Capital Management Co. LLC’s holdings in ATI were worth $165,767,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its position in shares of ATI by 295.9% during the 3rd quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 500 shares during the last quarter. Covestor Ltd lifted its position in ATI by 73.1% in the third quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock valued at $43,000 after buying an additional 441 shares during the last quarter. GAMMA Investing LLC purchased a new position in ATI during the fourth quarter worth about $58,000. Edmond DE Rothschild Holding S.A. increased its position in shares of ATI by 211.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of ATI in the 4th quarter valued at approximately $174,000.

Wall Street Analysts Forecast Growth

ATI has been the subject of a number of research analyst reports. KeyCorp increased their price objective on shares of ATI from $58.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Barclays upped their price target on ATI from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, ATI currently has an average rating of “Moderate Buy” and an average target price of $62.60.

ATI Stock Down 0.2 %

ATI stock traded down $0.09 during midday trading on Tuesday, hitting $57.87. The company’s stock had a trading volume of 1,068,048 shares, compared to its average volume of 1,321,316. The firm has a market capitalization of $7.20 billion, a P/E ratio of 23.20, a PEG ratio of 1.50 and a beta of 1.12. The company has a quick ratio of 1.37, a current ratio of 2.81 and a debt-to-equity ratio of 1.56. ATI Inc. has a 52-week low of $35.03 and a 52-week high of $62.44. The firm has a 50-day simple moving average of $56.18 and a 200-day simple moving average of $48.75.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. ATI’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 EPS. As a group, equities analysts forecast that ATI Inc. will post 2.41 EPS for the current year.

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.