3,700 Shares in ATI Inc. (NYSE:ATI) Bought by nVerses Capital LLC

nVerses Capital LLC purchased a new stake in shares of ATI Inc. (NYSE:ATI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,700 shares of the basic materials company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Van ECK Associates Corp grew its position in ATI by 10.7% during the fourth quarter. Van ECK Associates Corp now owns 143,050 shares of the basic materials company’s stock valued at $6,504,000 after buying an additional 13,775 shares during the period. Victory Capital Management Inc. increased its stake in shares of ATI by 14.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,109,192 shares of the basic materials company’s stock worth $50,435,000 after purchasing an additional 135,820 shares in the last quarter. Versor Investments LP purchased a new stake in shares of ATI in the 4th quarter worth $544,000. Mesirow Institutional Investment Management Inc. raised its holdings in ATI by 21.1% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 303,187 shares of the basic materials company’s stock worth $13,786,000 after purchasing an additional 52,847 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in ATI by 80.3% during the fourth quarter. BNP Paribas Financial Markets now owns 212,734 shares of the basic materials company’s stock valued at $9,673,000 after purchasing an additional 94,734 shares in the last quarter.

Wall Street Analysts Forecast Growth

ATI has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $80.00 price objective on shares of ATI in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Northcoast Research downgraded shares of ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. JPMorgan Chase & Co. raised their price target on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, BTIG Research initiated coverage on ATI in a research report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.83.

ATI Stock Performance

NYSE ATI opened at $63.88 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.07 and a current ratio of 2.13. The business’s 50 day moving average price is $61.17 and its 200-day moving average price is $56.22. The company has a market cap of $7.95 billion, a P/E ratio of 25.65, a P/E/G ratio of 1.56 and a beta of 1.07. ATI Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $68.92.

ATI (NYSE:ATI) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $0.59 EPS. Sell-side analysts predict that ATI Inc. will post 2.48 earnings per share for the current year.

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.