AXS Investments LLC purchased a new position in ATI Inc. (NYSE:ATI – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,000 shares of the basic materials company’s stock, valued at approximately $885,000.
Several other hedge funds and other institutional investors have also modified their holdings of ATI. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ATI by 4.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 945,139 shares of the basic materials company’s stock worth $41,803,000 after purchasing an additional 36,120 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of ATI by 16.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,706 shares of the basic materials company’s stock valued at $208,000 after purchasing an additional 672 shares in the last quarter. US Bancorp DE lifted its stake in shares of ATI by 1,904.6% in the 2nd quarter. US Bancorp DE now owns 20,567 shares of the basic materials company’s stock valued at $910,000 after purchasing an additional 19,541 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in ATI by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,464,983 shares of the basic materials company’s stock worth $109,022,000 after purchasing an additional 22,708 shares in the last quarter. Finally, TD Asset Management Inc acquired a new position in ATI during the second quarter worth $495,000.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on ATI shares. KeyCorp lowered their price objective on ATI from $49.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. StockNews.com assumed coverage on shares of ATI in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Barclays upped their price target on shares of ATI from $42.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, ATI presently has a consensus rating of “Moderate Buy” and an average price target of $49.17.
Insider Activity at ATI
In related news, Director James C. Diggs sold 2,674 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $44.90, for a total value of $120,062.60. Following the completion of the transaction, the director now owns 46,591 shares of the company’s stock, valued at $2,091,935.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is currently owned by corporate insiders.
ATI Stock Performance
ATI stock traded up $0.12 during trading on Friday, reaching $44.39. 842,784 shares of the stock were exchanged, compared to its average volume of 1,454,288. The stock has a 50 day simple moving average of $40.98 and a 200-day simple moving average of $41.47. The company has a current ratio of 3.13, a quick ratio of 1.50 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $5.66 billion, a P/E ratio of 21.65 and a beta of 1.27. ATI Inc. has a twelve month low of $27.97 and a twelve month high of $47.92.
ATI Company Profile
ATI Inc manufactures and sells specialty materials and 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, 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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