ATI Inc. (NYSE:ATI) Stock Position Increased by Verition Fund Management LLC

Verition Fund Management LLC boosted its position in ATI Inc. (NYSE:ATIGet Rating) by 180.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,400 shares of the basic materials company’s stock after purchasing an additional 34,974 shares during the quarter. Verition Fund Management LLC’s holdings in ATI were worth $1,460,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in ATI by 15.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,563,308 shares of the basic materials company’s stock valued at $41,959,000 after purchasing an additional 203,883 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in ATI by 39.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 102,592 shares of the basic materials company’s stock valued at $2,754,000 after purchasing an additional 29,136 shares during the last quarter. Range Financial Group LLC bought a new stake in ATI in the 1st quarter valued at about $588,000. Weiss Multi Strategy Advisers LLC bought a new stake in ATI in the 1st quarter valued at about $1,513,000. Finally, Advisors Asset Management Inc. bought a new stake in ATI in the 1st quarter valued at about $653,000.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Benchmark lifted their price objective on shares of ATI to $37.00 in a research report on Tuesday, August 9th. Wolfe Research upgraded shares of ATI from a “peer perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a research report on Friday, August 5th. Finally, KeyCorp boosted their price target on shares of ATI from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, ATI has a consensus rating of “Moderate Buy” and an average price target of $30.14.

ATI Stock Performance

Shares of ATI opened at $31.29 on Tuesday. The firm’s 50 day moving average is $28.51 and its 200-day moving average is $26.94. The stock has a market capitalization of $4.06 billion, a P/E ratio of 782.45 and a beta of 1.23. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.89 and a quick ratio of 1.30. ATI Inc. has a 12-month low of $13.85 and a 12-month high of $33.31.

ATI (NYSE:ATIGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.17. The company had revenue of $959.50 million for the quarter, compared to analysts’ expectations of $837.33 million. ATI had a net margin of 0.36% and a return on equity of 21.63%. The business’s revenue was up 55.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) EPS. Equities research analysts anticipate that ATI Inc. will post 2.02 EPS for the current fiscal year.

Insider Transactions at ATI

In other news, CAO Karl D. Schwartz sold 2,000 shares of ATI stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer now owns 64,833 shares of the company’s stock, valued at approximately $1,620,825. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Karl D. Schwartz sold 2,000 shares of ATI stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer now owns 64,833 shares of the company’s stock, valued at approximately $1,620,825. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James C. Diggs sold 12,500 shares of ATI stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $24.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 46,060 shares in the company, valued at approximately $1,105,440. The disclosure for this sale can be found here. Insiders have sold 16,500 shares of company stock valued at $412,540 in the last quarter. Insiders own 0.82% of the company’s stock.

About ATI

(Get Rating)

ATI Inc manufactures and sells specialty materials and components worldwide. The company 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, 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.

Featured Articles

Want to see what other hedge funds are holding ATI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ATI Inc. (NYSE:ATIGet Rating).

Institutional Ownership by Quarter for ATI (NYSE:ATI)

Receive News & Ratings for ATI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ATI and related companies with MarketBeat.com's FREE daily email newsletter.