Y Intercept Hong Kong Ltd Takes Position in ATI Inc. $ATI

Y Intercept Hong Kong Ltd purchased a new position in shares of ATI Inc. (NYSE:ATI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,241 shares of the basic materials company’s stock, valued at approximately $833,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Asset Management One Co. Ltd. bought a new position in shares of ATI during the third quarter worth $3,664,000. Envestnet Portfolio Solutions Inc. raised its stake in ATI by 27.4% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 39,682 shares of the basic materials company’s stock worth $3,228,000 after buying an additional 8,532 shares during the period. Schroder Investment Management Group lifted its holdings in ATI by 21.3% during the second quarter. Schroder Investment Management Group now owns 532,837 shares of the basic materials company’s stock worth $46,005,000 after acquiring an additional 93,620 shares in the last quarter. Confluence Wealth Services Inc. bought a new position in ATI during the third quarter worth about $481,000. Finally, Segall Bryant & Hamill LLC grew its stake in ATI by 108.9% in the second quarter. Segall Bryant & Hamill LLC now owns 373,083 shares of the basic materials company’s stock valued at $32,212,000 after acquiring an additional 194,518 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on ATI from $118.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. KeyCorp raised their target price on shares of ATI from $120.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft set a $98.00 price target on shares of ATI in a report on Wednesday, October 8th. Alembic Global Advisors started coverage on shares of ATI in a report on Thursday, January 15th. They set an “overweight” rating and a $141.00 price objective on the stock. Finally, BTIG Research reaffirmed a “buy” rating and issued a $120.00 target price on shares of ATI in a research note on Wednesday, October 29th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.75.

ATI Trading Up 0.9%

ATI stock opened at $121.41 on Tuesday. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 39.29, a P/E/G ratio of 1.16 and a beta of 1.02. The firm has a 50-day moving average of $114.14 and a 200-day moving average of $94.84. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.50 and a quick ratio of 1.18. ATI Inc. has a one year low of $39.23 and a one year high of $127.11.

Insiders Place Their Bets

In related news, SVP Tina Killough Busch sold 2,598 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $93.26, for a total transaction of $242,289.48. Following the transaction, the senior vice president directly owned 21,274 shares in the company, valued at approximately $1,984,013.24. The trade was a 10.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Robert S. Wetherbee sold 60,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $98.34, for a total transaction of $5,900,400.00. Following the sale, the chairman directly owned 246,538 shares in the company, valued at $24,244,546.92. This trade represents a 19.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 148,087 shares of company stock valued at $15,131,989 in the last 90 days. 1.10% of the stock is currently owned by insiders.

ATI Company Profile

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.