Verition Fund Management LLC Boosts Holdings in ATI Inc. (NYSE:ATI)

Verition Fund Management LLC raised its holdings in ATI Inc. (NYSE:ATIGet Rating) by 180.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,400 shares of the basic materials company’s stock after buying an additional 34,974 shares during the quarter. Verition Fund Management LLC’s holdings in ATI were worth $1,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in ATI by 15.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,563,308 shares of the basic materials company’s stock valued at $41,959,000 after buying an additional 203,883 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of ATI by 39.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 102,592 shares of the basic materials company’s stock valued at $2,754,000 after purchasing an additional 29,136 shares in the last quarter. Range Financial Group LLC acquired a new position in shares of ATI in the 1st quarter valued at about $588,000. Weiss Multi Strategy Advisers LLC acquired a new position in shares of ATI in the 1st quarter valued at about $1,513,000. Finally, Advisors Asset Management Inc. acquired a new position in shares of ATI in the 1st quarter valued at about $653,000.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ATI shares. Benchmark lifted their price objective on ATI to $37.00 in a research note on Tuesday, August 9th. KeyCorp lifted their price objective on ATI from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Finally, Wolfe Research raised ATI from a “peer perform” rating to an “outperform” rating and set a $33.00 price objective on the stock in a research note on Friday, August 5th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, ATI presently has a consensus rating of “Moderate Buy” and an average target price of $30.14.

ATI Stock Performance

ATI stock opened at $31.29 on Tuesday. The stock’s 50 day moving average price is $28.51 and its 200 day moving average price is $26.94. The firm has a market capitalization of $4.06 billion, a PE ratio of 782.45 and a beta of 1.23. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.30 and a current ratio of 2.89. ATI Inc. has a one year low of $13.85 and a one year high of $33.31.

ATI (NYSE:ATIGet Rating) last released its quarterly earnings results on Thursday, August 4th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.37 by $0.17. The firm had revenue of $959.50 million for the quarter, compared to analyst estimates of $837.33 million. ATI had a return on equity of 21.63% and a net margin of 0.36%. ATI’s revenue for the quarter was up 55.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) EPS. As a group, sell-side analysts expect that ATI Inc. will post 2.02 EPS for the current fiscal year.

Insider Activity

In related news, CAO Karl D. Schwartz sold 1,000 shares of ATI stock in a transaction on Monday, September 12th. The shares were sold at an average price of $31.32, for a total value of $31,320.00. Following the completion of the sale, the chief accounting officer now owns 62,833 shares in the company, valued at $1,967,929.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ATI news, Director James C. Diggs sold 12,500 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $24.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 46,060 shares of the company’s stock, valued at approximately $1,105,440. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Karl D. Schwartz sold 1,000 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $31.32, for a total transaction of $31,320.00. Following the transaction, the chief accounting officer now directly owns 62,833 shares of the company’s stock, valued at $1,967,929.56. The disclosure for this sale can be found here. In the last three months, insiders sold 16,500 shares of company stock worth $412,540. 0.82% of the stock is currently owned by insiders.

ATI Company Profile

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ATI Inc manufactures and sells specialty materials and components worldwide. The company 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, 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.

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Institutional Ownership by Quarter for ATI (NYSE:ATI)

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