Ionic Capital Management LLC Invests $506,000 in ATI Inc. (NYSE:ATI)

Ionic Capital Management LLC bought a new stake in ATI Inc. (NYSE:ATI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,200 shares of the basic materials company’s stock, valued at approximately $506,000.

Other institutional investors also recently added to or reduced their stakes in the company. J. Goldman & Co LP acquired a new position in shares of ATI during the 4th quarter worth about $14,632,000. Jefferies Financial Group Inc. boosted its holdings in ATI by 777.2% in the fourth quarter. Jefferies Financial Group Inc. now owns 88,600 shares of the basic materials company’s stock valued at $4,877,000 after purchasing an additional 78,500 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in ATI in the fourth quarter valued at approximately $11,097,000. Gotham Asset Management LLC lifted its position in shares of ATI by 57.7% during the 4th quarter. Gotham Asset Management LLC now owns 178,422 shares of the basic materials company’s stock worth $9,820,000 after buying an additional 65,279 shares during the last quarter. Finally, Ethic Inc. boosted its holdings in shares of ATI by 72.1% in the 4th quarter. Ethic Inc. now owns 36,212 shares of the basic materials company’s stock valued at $1,993,000 after buying an additional 15,168 shares in the last quarter.

ATI Price Performance

Shares of NYSE ATI opened at $71.46 on Friday. The stock has a fifty day moving average price of $52.71 and a 200 day moving average price of $56.07. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $72.33. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. The company has a market cap of $10.08 billion, a PE ratio of 28.02, a P/E/G ratio of 0.85 and a beta of 1.01.

ATI (NYSE:ATI) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. Sell-side analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Insider Activity

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total value of $3,409,000.00. Following the completion of the transaction, the chairman now owns 506,538 shares in the company, valued at approximately $34,535,760.84. This represents a 8.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ATI shares. BTIG Research set a $90.00 price target on shares of ATI and gave the company a “buy” rating in a research report on Monday, May 5th. StockNews.com raised ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. KeyCorp upgraded ATI from a “sector weight” rating to an “overweight” rating and set a $55.00 price target on the stock in a research note on Wednesday, April 23rd. Barclays boosted their price objective on ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Benchmark restated a “buy” rating and set a $81.00 target price on shares of ATI in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.14.

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.