First Citizens Bank & Trust Co. Makes New Investment in ATI Inc. $ATI

First Citizens Bank & Trust Co. acquired a new stake in ATI Inc. (NYSE:ATI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,059 shares of the basic materials company’s stock, valued at approximately $574,000.

Several other large investors have also made changes to their positions in ATI. Public Employees Retirement System of Ohio raised its position in shares of ATI by 14.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 44,195 shares of the basic materials company’s stock worth $3,816,000 after purchasing an additional 5,466 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in ATI in the 3rd quarter worth about $3,664,000. Schroder Investment Management Group increased its stake in ATI by 21.3% during the 2nd quarter. Schroder Investment Management Group now owns 532,837 shares of the basic materials company’s stock worth $46,005,000 after buying an additional 93,620 shares in the last quarter. Confluence Wealth Services Inc. acquired a new position in shares of ATI during the third quarter valued at approximately $481,000. Finally, Segall Bryant & Hamill LLC lifted its position in shares of 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 in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on ATI shares. KeyCorp boosted their price target on ATI from $120.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. lifted their target price on shares of ATI from $118.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Susquehanna reiterated a “positive” rating and issued a $145.00 target price on shares of ATI in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft set a $98.00 price target on shares of ATI in a research note on Wednesday, October 8th. Finally, Alembic Global Advisors initiated coverage on shares of ATI in a research note on Thursday, January 15th. They set an “overweight” rating and a $141.00 price objective for the company. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.75.

ATI Stock Up 0.6%

Shares of NYSE ATI opened at $124.06 on Wednesday. The company has a 50 day simple moving average of $112.18 and a 200-day simple moving average of $93.98. The company has a market capitalization of $16.85 billion, a P/E ratio of 40.15, a P/E/G ratio of 1.18 and a beta of 1.02. 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 1 year low of $39.23 and a 1 year high of $127.11.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. ATI had a return on equity of 23.34% and a net margin of 9.71%.The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. On average, equities research analysts predict that ATI Inc. will post 2.89 earnings per share for the current year.

Insider Transactions at ATI

In related news, VP Timothy J. Harris sold 10,543 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $97.69, for a total transaction of $1,029,945.67. Following the completion of the sale, the vice president directly owned 119,394 shares of the company’s stock, valued at approximately $11,663,599.86. This trade represents a 8.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert S. Wetherbee sold 60,000 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $98.34, for a total transaction of $5,900,400.00. Following the completion of the transaction, the chairman directly owned 246,538 shares in the company, valued at $24,244,546.92. The trade was a 19.57% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 158,630 shares of company stock worth $16,144,855. 1.10% of the stock is currently owned by company insiders.

ATI 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.