MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income Has $12.17 Million Position in ATI Inc. (NYSE:ATI)

MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income cut its stake in shares of ATI Inc. (NYSE:ATI – Get Rating) by 22.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 453,355 shares of the basic materials company’s stock after selling 127,965 shares during the period. ATI comprises approximately 1.3% of MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s investment portfolio, making the stock its 23rd largest holding. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s holdings in ATI were worth $12,168,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas increased its holdings in ATI by 7.2% in the 1st quarter. Teacher Retirement System of Texas now owns 26,215 shares of the basic materials company’s stock worth $704,000 after acquiring an additional 1,755 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of ATI during the first quarter worth about $1,996,000. Freemont Management S.A. purchased a new position in shares of ATI during the first quarter worth about $183,000. CIBC Asset Management Inc grew its holdings in shares of ATI by 75.2% during the first quarter. CIBC Asset Management Inc now owns 19,802 shares of the basic materials company’s stock worth $531,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of ATI by 9.1% during the first quarter. Fisher Asset Management LLC now owns 2,608,557 shares of the basic materials company’s stock worth $70,014,000 after purchasing an additional 217,126 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ATI shares. KeyCorp boosted their target price on ATI from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday. Wolfe Research upgraded ATI from a “market perform” rating to an “outperform” rating and set a $33.00 target price for the company in a research report on Friday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.14.

Insider Activity at ATI

In related news, Director James C. Diggs sold 12,500 shares of the company’s 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 owns 46,060 shares in the company, valued at $1,105,440. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director James C. Diggs sold 12,500 shares of the company’s 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 owns 46,060 shares in the company, valued at $1,105,440. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Karl D. Schwartz sold 2,000 shares of the company’s 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 disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

ATI Trading Up 5.9 %

ATI stock traded up $1.62 during midday trading on Friday, hitting $29.02. The company had a trading volume of 3,075,732 shares, compared to its average volume of 1,355,135. The company has a current ratio of 2.89, a quick ratio of 1.25 and a debt-to-equity ratio of 1.91. ATI Inc. has a 52 week low of $13.85 and a 52 week high of $30.74. The stock’s 50 day moving average price is $24.12 and its 200 day moving average price is $25.08. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 725.68 and a beta of 1.31.

ATI (NYSE:ATI – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.17. ATI had a return on equity of 21.63% and a net margin of 0.36%. The firm had revenue of $959.50 million during the quarter, compared to the consensus estimate of $837.33 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The business’s revenue was up 55.7% on a year-over-year basis. As a group, equities research analysts expect that ATI Inc. will post 1.52 earnings per share for the current fiscal year.

ATI Company Profile

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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.