Fifth Third Bancorp Has $58,000 Stock Position in ATI Inc. (NYSE:ATI)

Fifth Third Bancorp raised its holdings in ATI Inc. (NYSE:ATI) by 115.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,124 shares of the basic materials company’s stock after buying an additional 603 shares during the quarter. Fifth Third Bancorp’s holdings in ATI were worth $58,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of ATI by 14.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company’s stock worth $86,031,000 after acquiring an additional 191,823 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of ATI in the fourth quarter worth $618,000. D.A. Davidson & CO. grew its position in ATI by 5.7% in the 4th quarter. D.A. Davidson & CO. now owns 9,767 shares of the basic materials company’s stock worth $538,000 after purchasing an additional 530 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in ATI in the 4th quarter worth $463,000. Finally, Bank of New York Mellon Corp grew its position in ATI by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 891,152 shares of the basic materials company’s stock worth $49,049,000 after purchasing an additional 12,907 shares during the last quarter.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 45,359 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $75.31, for a total value of $3,415,986.29. Following the sale, the chairman now owns 461,179 shares of the company’s stock, valued at $34,731,390.49. The trade was a 8.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 195,359 shares of company stock valued at $15,103,486 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

ATI Price Performance

Shares of ATI stock opened at $82.42 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.30 and a current ratio of 2.53. The firm’s 50-day simple moving average is $70.26 and its 200-day simple moving average is $60.59. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $86.40. The firm has a market cap of $11.63 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14.

ATI (NYSE:ATI) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. ATI had a return on equity of 21.37% and a net margin of 8.93%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 earnings per share. As a group, research analysts expect that ATI Inc. will post 2.89 EPS for the current fiscal year.

Analysts Set New Price Targets

ATI has been the topic of several research analyst reports. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, May 20th. Citigroup raised ATI to a “positive” rating in a research report on Tuesday, May 20th. BTIG Research set a $105.00 target price on ATI and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Finally, Benchmark reissued a “buy” rating and set a $81.00 price objective on shares of ATI in a report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, ATI has a consensus rating of “Moderate Buy” and an average price target of $78.29.

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.