Envestnet Portfolio Solutions Inc. Acquires 6,299 Shares of ATI Inc. (NYSE:ATI)

Envestnet Portfolio Solutions Inc. increased its stake in ATI Inc. (NYSE:ATI) by 35.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,926 shares of the basic materials company’s stock after acquiring an additional 6,299 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in ATI were worth $1,317,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of ATI by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company’s stock worth $86,031,000 after purchasing an additional 191,823 shares during the period. Hantz Financial Services Inc. bought a new position in ATI during the third quarter valued at $765,000. Franklin Resources Inc. raised its stake in shares of ATI by 16.2% in the third quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock valued at $27,993,000 after acquiring an additional 61,999 shares during the period. Covea Finance lifted its holdings in shares of ATI by 32.7% in the 4th quarter. Covea Finance now owns 65,000 shares of the basic materials company’s stock worth $3,578,000 after acquiring an additional 16,000 shares during the last quarter. Finally, Forest Avenue Capital Management LP purchased a new position in shares of ATI during the 3rd quarter worth about $28,700,000.

Analysts Set New Price Targets

Several brokerages have issued reports on ATI. Susquehanna raised their price objective on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Barclays increased their target price on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Benchmark boosted their target price on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One research 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

Insider Activity at ATI

In related news, SVP Tina Killough Busch sold 9,900 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the sale, the senior vice president now owns 25,994 shares of the company’s stock, valued at $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is currently owned by corporate insiders.

ATI Price Performance

ATI opened at $51.94 on Friday. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88. The business’s fifty day simple moving average is $57.44 and its 200-day simple moving average is $58.71. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 0.85 and a beta of 1.14. ATI Inc. has a 12-month low of $47.90 and a 12-month high of $68.92.

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

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.