PVG Asset Management Corp Takes Position in ATI Inc. $ATI

PVG Asset Management Corp purchased a new position in ATI Inc. (NYSE:ATI) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,475 shares of the basic materials company’s stock, valued at approximately $1,524,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC boosted its position in ATI by 304.6% during the first quarter. Empowered Funds LLC now owns 55,970 shares of the basic materials company’s stock valued at $8,141,000 after purchasing an additional 42,136 shares during the last quarter. DV Trading LLC increased its position in ATI by 100.0% in the 1st quarter. DV Trading LLC now owns 1,600 shares of the basic materials company’s stock worth $233,000 after purchasing an additional 800 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of ATI by 3,869.0% during the 1st quarter. NewEdge Advisors LLC now owns 3,969 shares of the basic materials company’s stock worth $577,000 after purchasing an additional 3,869 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of ATI during the 1st quarter worth about $178,000. Finally, Bank of America Corp DE lifted its holdings in shares of ATI by 70.8% during the 1st quarter. Bank of America Corp DE now owns 1,364,941 shares of the basic materials company’s stock valued at $198,544,000 after buying an additional 565,867 shares during the last quarter.

ATI Price Performance

Shares of NYSE:ATI opened at $187.76 on Monday. ATI Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $205.31. The business has a 50-day moving average of $188.34 and a two-hundred day moving average of $161.74. The stock has a market capitalization of $25.62 billion, a P/E ratio of 62.17, a P/E/G ratio of 1.49 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.67 and a quick ratio of 1.17.

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

Insider Buying and Selling at ATI

In related news, CEO Kimberly A. Fields sold 59,749 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $179.07, for a total value of $10,699,253.43. Following the completion of the sale, the chief executive officer directly owned 218,014 shares in the company, valued at approximately $39,039,766.98. The trade was a 21.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 192,199 shares of company stock valued at $34,601,100. 0.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on ATI. TD Cowen boosted their price target on ATI from $170.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 13th. KeyCorp raised their price objective on shares of ATI from $175.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Wall Street Zen cut shares of ATI from a “buy” rating to a “hold” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. boosted their target price on shares of ATI from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of ATI from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 9th. 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. According to MarketBeat, ATI has an average rating of “Buy” and a consensus price target of $176.78.

ATI Company Profile

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.