252,093 Shares in ATI Inc. $ATI Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of ATI Inc. (NYSE:ATI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 252,093 shares of the basic materials company’s stock, valued at approximately $47,746,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ATI in the third quarter valued at $845,000. Vise Technologies Inc. grew its stake in ATI by 44.8% in the third quarter. Vise Technologies Inc. now owns 4,932 shares of the basic materials company’s stock valued at $934,000 after purchasing an additional 1,526 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in ATI in the third quarter valued at about $186,000. Parcion Private Wealth LLC increased its holdings in shares of ATI by 7.5% in the third quarter. Parcion Private Wealth LLC now owns 1,853 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 129 shares during the period. Finally, Soltis Investment Advisors LLC increased its stake in shares of ATI by 10.5% in the third quarter. Soltis Investment Advisors LLC now owns 1,238 shares of the basic materials company’s stock worth $235,000 after acquiring an additional 118 shares during the period.

ATI Price Performance

ATI opened at $178.96 on Thursday. ATI Inc. has a 1 year low of $93.11 and a 1 year high of $243.57. The stock has a market capitalization of $24.31 billion, a PE ratio of 44.74, a P/E/G ratio of 1.06 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.27 and a current ratio of 2.77. The company’s 50 day simple moving average is $188.46 and its 200 day simple moving average is $173.79.

ATI (NYSE:ATI) last announced its quarterly earnings results on Thursday, October 29th. The basic materials company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.37 by $0.09. ATI had a return on equity of 32.30% and a net margin of 11.08%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The firm’s revenue was up 26.5% on a year-over-year basis. As a group, sell-side analysts expect that ATI Inc. will post 5.20 EPS for the current year.

Analyst Ratings Changes

ATI has been the topic of a number of research analyst reports. Susquehanna lifted their price target on shares of ATI from $215.00 to $265.00 and gave the company a “positive” rating in a research note on Friday, August 7th. Weiss Ratings lowered shares of ATI from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. Wall Street Zen upgraded ATI from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Wells Fargo & Company dropped their price objective on ATI from $275.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Finally, KeyCorp dropped their price target on ATI from $258.00 to $228.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, ATI has a consensus rating of “Buy” and an average target price of $221.38.

Insider Activity

In related news, Director David J. Morehouse sold 2,485 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $201.61, for a total value of $501,000.85. Following the sale, the director directly owned 35,826 shares of the company’s stock, valued at $7,222,879.86. This represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kimberly A. Fields sold 24,845 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $231.19, for a total value of $5,743,915.55. Following the completion of the sale, the chief executive officer directly owned 100,719 shares of the company’s stock, valued at approximately $23,285,225.61. This represents a 19.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 85,830 shares of company stock worth $18,046,361 over the last ninety days. Corporate insiders own 0.98% of the company’s stock.

About ATI

ATI Inc (NYSE: ATI) is a specialty materials and components manufacturer serving demanding applications in the aerospace and defense, medical, energy, and industrial markets. The company develops and produces materials designed to perform in high-temperature, high-strength, and corrosion-resistant environments.

Its products include nickel-based superalloys, titanium and titanium-based materials, specialty steels, precision-rolled materials, forgings, and other engineered components. These products are used in aircraft engines and airframes, defense systems, medical implants and devices, power-generation equipment, and other industrial applications.

ATI was formed in 1996 through the combination of Allegheny Ludlum Corporation and Teledyne, Inc The company serves customers in the United States and international markets through manufacturing and processing operations across North America and Europe.