Van ECK Associates Corp Purchases 13,775 Shares of ATI Inc. (NYSE:ATI)

Van ECK Associates Corp grew its position in ATI Inc. (NYSE:ATI) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,050 shares of the basic materials company’s stock after purchasing an additional 13,775 shares during the period. Van ECK Associates Corp owned approximately 0.11% of ATI worth $6,504,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clearstead Advisors LLC boosted its stake 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 buying an additional 500 shares during the last quarter. Covestor Ltd increased its position in shares of ATI by 73.1% during the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 441 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of ATI during the 4th quarter worth approximately $58,000. Accel Wealth Management acquired a new stake in shares of ATI in the 4th quarter valued at approximately $202,000. Finally, Jump Financial LLC bought a new position in shares of ATI in the third quarter valued at $204,000.

ATI Stock Up 0.2 %

ATI stock opened at $58.16 on Friday. ATI Inc. has a twelve month low of $34.10 and a twelve month high of $61.58. The stock has a market cap of $7.24 billion, a P/E ratio of 23.36, a P/E/G ratio of 1.55 and a beta of 1.17. The company’s 50-day moving average price is $50.75 and its two-hundred day moving average price is $45.24. The company has a quick ratio of 1.53, a current ratio of 2.81 and a debt-to-equity ratio of 1.56.

ATI (NYSE:ATI) last released 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 business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm posted $0.49 EPS. As a group, analysts expect that ATI Inc. will post 2.4 EPS for the current year.

Insider Activity

In related news, VP Timothy J. Harris sold 6,325 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.44, for a total transaction of $268,433.00. Following the transaction, the vice president now directly owns 109,331 shares of the company’s stock, valued at $4,640,007.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of ATI in a research report on Thursday, April 11th. They set a “buy” rating and a $70.00 price target on the stock. KeyCorp raised their target price on shares of ATI from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Finally, TheStreet raised ATI from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, ATI presently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

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.