GAMMA Investing LLC Invests $58,000 in ATI Inc. (NYSE:ATI)

GAMMA Investing LLC acquired a new stake in ATI Inc. (NYSE:ATI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,275 shares of the basic materials company’s stock, valued at approximately $58,000.

Several other hedge funds have also recently bought and sold shares of ATI. Raymond James & Associates increased its stake in ATI by 62.0% during the third quarter. Raymond James & Associates now owns 27,056 shares of the basic materials company’s stock worth $1,113,000 after purchasing an additional 10,351 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ATI by 15.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,244 shares of the basic materials company’s stock worth $833,000 after buying an additional 2,763 shares in the last quarter. Strs Ohio boosted its position in ATI by 11.0% in the 3rd quarter. Strs Ohio now owns 16,200 shares of the basic materials company’s stock valued at $666,000 after buying an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of ATI by 3.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 974,528 shares of the basic materials company’s stock worth $40,102,000 after acquiring an additional 29,389 shares in the last quarter. Finally, Advisor Partners II LLC increased its position in shares of ATI by 2.4% during the third quarter. Advisor Partners II LLC now owns 20,762 shares of the basic materials company’s stock worth $854,000 after acquiring an additional 490 shares during the period.

ATI Trading Down 1.4 %

NYSE:ATI opened at $58.85 on Thursday. ATI Inc. has a 1 year low of $34.10 and a 1 year high of $61.58. The stock has a market cap of $7.32 billion, a P/E ratio of 23.63, a P/E/G ratio of 1.69 and a beta of 1.16. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.53 and a current ratio of 2.81. The stock has a 50-day simple moving average of $50.03 and a 200-day simple moving average of $44.91.

ATI (NYSE:ATI) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. As a group, analysts anticipate that ATI Inc. will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ATI news, VP Timothy J. Harris sold 6,325 shares of ATI stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the transaction, the vice president now directly owns 109,331 shares in the company, valued at $4,640,007.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on ATI in a report on Thursday, April 11th. They issued a “buy” rating and a $70.00 target price for the company. TheStreet raised ATI from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, KeyCorp raised their target price on shares of ATI from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

ATI Company 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.