Soros Fund Management LLC Acquires 194,045 Shares of ATI Inc. (NYSE:ATI)

Soros Fund Management LLC raised its stake in shares of ATI Inc. (NYSE:ATI) by 98.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 391,501 shares of the basic materials company’s stock after purchasing an additional 194,045 shares during the quarter. Soros Fund Management LLC’s holdings in ATI were worth $21,548,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors raised its holdings in shares of ATI by 100.5% during the fourth quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company’s stock valued at $378,432,000 after purchasing an additional 3,446,919 shares during the last quarter. Dendur Capital LP raised its stake in ATI by 601.7% during the 4th quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company’s stock valued at $196,328,000 after buying an additional 3,058,628 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of ATI by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock valued at $844,061,000 after buying an additional 2,020,313 shares during the period. Norges Bank bought a new position in shares of ATI during the 4th quarter valued at $85,047,000. Finally, Capital International Investors boosted its stake in shares of ATI by 5.4% in the 4th quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company’s stock worth $875,190,000 after buying an additional 817,182 shares during the last quarter.

Analysts Set New Price Targets

ATI has been the topic of a number of recent research reports. StockNews.com raised ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. KeyCorp upgraded shares of ATI from a “sector weight” rating to an “overweight” rating and set a $55.00 price objective on the stock in a research note on Wednesday, April 23rd. Benchmark restated a “buy” rating and set a $81.00 target price on shares of ATI in a research report on Monday, April 21st. Barclays upped their target price on shares of ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Susquehanna lifted their price target on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.29.

Insider Buying and Selling at ATI

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total transaction of $657,459.00. Following the completion of the sale, the senior vice president now directly owns 25,994 shares of the company’s stock, valued at $1,726,261.54. This trade represents a 27.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

ATI Trading Up 1.4 %

ATI stock opened at $53.85 on Tuesday. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $68.92. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 0.85 and a beta of 0.80. The firm has a 50 day moving average of $51.37 and a 200 day moving average of $55.89.

ATI (NYSE:ATI) last announced its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.19. ATI had a net margin of 8.43% and a return on equity of 21.16%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts predict that ATI Inc. will post 2.89 earnings per share for the current year.

ATI 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.