Gateway Wealth Partners LLC Purchases Shares of 3,439 ATI Inc. $ATI

Gateway Wealth Partners LLC purchased a new stake in ATI Inc. (NYSE:ATI) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 3,439 shares of the basic materials company’s stock, valued at approximately $500,000.

Several other large investors also recently made changes to their positions in ATI. Norges Bank acquired a new stake in shares of ATI during the fourth quarter worth $198,787,000. SG Americas Securities LLC increased its holdings in ATI by 1,471.8% during the 1st quarter. SG Americas Securities LLC now owns 1,075,368 shares of the basic materials company’s stock worth $156,423,000 after purchasing an additional 1,006,951 shares in the last quarter. AQR Capital Management LLC increased its holdings in ATI by 684.9% during the 4th quarter. AQR Capital Management LLC now owns 1,019,840 shares of the basic materials company’s stock worth $117,037,000 after purchasing an additional 889,912 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of ATI by 231.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company’s stock valued at $175,094,000 after purchasing an additional 840,455 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of ATI by 1,714.0% in the first quarter. PNC Financial Services Group Inc. now owns 831,736 shares of the basic materials company’s stock valued at $120,984,000 after purchasing an additional 785,885 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. KeyCorp upped their price objective on ATI from $175.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. lifted their target price on ATI from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $194.00 price target on shares of ATI in a research report on Friday, May 1st. Weiss Ratings raised shares of ATI from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 9th. Finally, Zacks Research upgraded shares of ATI from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $176.78.

Insider Transactions at ATI

In related news, CEO Kimberly A. Fields sold 31,757 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $190.99, for a total transaction of $6,065,269.43. Following the completion of the transaction, the chief executive officer directly owned 125,564 shares of the company’s stock, valued at approximately $23,981,468.36. This represents a 20.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 192,199 shares of company stock worth $34,601,100 in the last 90 days. Corporate insiders own 0.98% of the company’s stock.

ATI Trading Up 2.2%

ATI stock opened at $181.87 on Friday. The firm has a 50-day moving average of $187.83 and a 200-day moving average of $161.29. ATI Inc. has a one year low of $70.42 and a one year high of $205.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.67 and a quick ratio of 1.17. The company has a market cap of $24.82 billion, a price-to-earnings ratio of 60.22, a P/E/G ratio of 1.42 and a beta of 0.96.

ATI (NYSE:ATI) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.12. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ATI had a return on equity of 26.44% and a net margin of 9.26%.ATI’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. On average, equities analysts expect that ATI Inc. will post 4.49 earnings per share for the current fiscal year.

About ATI

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.