Rhumbline Advisers Grows Holdings in ATI Inc. (NYSE:ATI)

Rhumbline Advisers raised its position in ATI Inc. (NYSE:ATI) by 19.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 362,532 shares of the basic materials company’s stock after purchasing an additional 58,241 shares during the period. Rhumbline Advisers owned about 0.26% of ATI worth $18,862,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of ATI by 14.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company’s stock worth $86,031,000 after acquiring an additional 191,823 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of ATI during the 4th quarter worth about $618,000. Bleakley Financial Group LLC lifted its holdings in shares of ATI by 33.6% during the 4th quarter. Bleakley Financial Group LLC now owns 4,780 shares of the basic materials company’s stock worth $263,000 after acquiring an additional 1,203 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of ATI by 5.7% during the 4th quarter. D.A. Davidson & CO. now owns 9,767 shares of the basic materials company’s stock worth $538,000 after acquiring an additional 530 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in shares of ATI during the 4th quarter worth about $463,000.

Wall Street Analyst Weigh In

ATI has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and set a $81.00 price objective on shares of ATI in a report on Monday, April 21st. Citigroup upgraded shares of ATI to a “positive” rating in a report on Tuesday, May 20th. Barclays increased their price objective on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. BTIG Research set a $105.00 price objective on shares of ATI and gave the stock a “buy” rating in a report on Wednesday, May 28th. Finally, KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.29.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the sale, the chairman now directly owns 506,538 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 145,359 shares of company stock valued at $10,906,986. 1.10% of the stock is currently owned by corporate insiders.

ATI Price Performance

Shares of NYSE ATI opened at $84.04 on Friday. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $84.28. The firm’s 50-day simple moving average is $62.78 and its 200 day simple moving average is $58.93. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The stock has a market cap of $11.86 billion, a P/E ratio of 32.96, a P/E/G ratio of 0.85 and a beta of 1.13.

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

About ATI

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.