GAMMA Investing LLC Increases Stock Holdings in ATI Inc. (NYSE:ATI)

GAMMA Investing LLC raised its position in ATI Inc. (NYSE:ATI) by 39.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,478 shares of the basic materials company’s stock after purchasing an additional 979 shares during the period. GAMMA Investing LLC’s holdings in ATI were worth $181,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised 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 valued at $86,031,000 after acquiring an additional 191,823 shares in the last quarter. Farther Finance Advisors LLC grew its position in ATI by 418.1% in the first quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 1,062 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in ATI during the fourth quarter worth about $618,000. New Age Alpha Advisors LLC purchased a new position in shares of ATI during the 4th quarter valued at about $463,000. Finally, Bank of New York Mellon Corp grew its position in ATI by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 891,152 shares of the basic materials company’s stock valued at $49,049,000 after acquiring an additional 12,907 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citigroup upgraded shares of ATI to a “positive” rating in a research report on Tuesday, May 20th. BTIG Research set a $105.00 price objective on ATI and gave the company a “buy” rating in a research note on Wednesday, May 28th. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, May 20th. Finally, Benchmark reissued a “buy” rating and issued a $81.00 target price on shares of ATI in a research note on Monday, April 21st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $78.29.

ATI Price Performance

ATI stock opened at $86.85 on Friday. The firm has a 50-day moving average of $77.08 and a 200 day moving average of $62.31. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.53 and a quick ratio of 1.30. The company has a market cap of $12.25 billion, a P/E ratio of 31.47, a PEG ratio of 1.20 and a beta of 1.13. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $87.75.

ATI (NYSE:ATI) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.07 billion. ATI had a return on equity of 21.37% and a net margin of 8.93%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. On average, sell-side analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the transaction, the chairman directly owned 506,538 shares in the company, valued at $34,535,760.84. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 195,359 shares of company stock worth $15,103,486. 1.10% of the stock is owned by company insiders.

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.