SG Capital Management LLC Purchases New Position in ATI Inc. (NYSE:ATI)

SG Capital Management LLC acquired a new position in shares of ATI Inc. (NYSE:ATI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 335,080 shares of the basic materials company’s stock, valued at approximately $18,443,000. ATI makes up approximately 1.8% of SG Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. SG Capital Management LLC owned approximately 0.23% of ATI at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased its holdings in shares of ATI by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company’s stock worth $215,000 after buying an additional 192 shares in the last quarter. Keystone Financial Group increased its holdings in ATI by 5.3% in the 4th quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company’s stock worth $217,000 after purchasing an additional 200 shares in the last quarter. Pier 88 Investment Partners LLC raised its position in ATI by 3.0% in the fourth quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company’s stock valued at $419,000 after purchasing an additional 220 shares during the last quarter. Hantz Financial Services Inc. raised its position in ATI by 2.1% in the fourth quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company’s stock valued at $643,000 after purchasing an additional 240 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of ATI by 20.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company’s stock valued at $95,000 after purchasing an additional 288 shares in the last quarter.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total value of $3,409,000.00. Following the completion of the sale, the chairman now owns 506,538 shares in the company, valued at $34,535,760.84. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

ATI Stock Down 0.1%

Shares of NYSE:ATI opened at $74.98 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $75.63. The business’s 50 day simple moving average is $54.22 and its two-hundred day simple moving average is $56.45. The firm has a market cap of $10.58 billion, a P/E ratio of 29.40, a PEG ratio of 0.85 and a beta of 1.01.

ATI (NYSE:ATI) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $1.14 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%. ATI’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 EPS. As a group, research analysts forecast that ATI Inc. will post 2.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ATI has been the subject of a number of research reports. KeyCorp upgraded shares of ATI from a “sector weight” rating to an “overweight” rating and set a $55.00 price objective for the company in a report on Wednesday, April 23rd. 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. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Benchmark restated a “buy” rating and issued a $81.00 price objective on shares of ATI in a report on Monday, April 21st. Finally, BTIG Research set a $90.00 target price on ATI and gave the stock a “buy” rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.14.

ATI 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.