Mirae Asset Global Investments Co. Ltd. grew its stake in shares of ATI Inc. (NYSE:ATI – Free Report) by 4.0% in the second quarter, Holdings Channel.com reports. The fund owned 945,139 shares of the basic materials company’s stock after purchasing an additional 36,120 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ATI were worth $41,803,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Creative Planning acquired a new stake in shares of ATI during the 2nd quarter valued at approximately $269,000. Level Four Advisory Services LLC acquired a new stake in shares of ATI during the 1st quarter valued at approximately $569,000. K.J. Harrison & Partners Inc acquired a new stake in shares of ATI during the 2nd quarter valued at approximately $441,000. Rhumbline Advisers lifted its position in shares of ATI by 4.5% during the 1st quarter. Rhumbline Advisers now owns 392,327 shares of the basic materials company’s stock valued at $15,481,000 after acquiring an additional 16,841 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in shares of ATI by 11.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 67,500 shares of the basic materials company’s stock valued at $2,986,000 after acquiring an additional 7,200 shares during the period.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on ATI. Barclays lifted their price target on shares of ATI from $42.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. StockNews.com assumed coverage on shares of ATI in a research note on Thursday, October 5th. They set a “hold” rating for the company. Finally, KeyCorp dropped their price objective on shares of ATI from $49.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.17.
ATI Trading Up 0.3 %
Shares of ATI opened at $44.39 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 3.13 and a quick ratio of 1.50. The firm has a 50 day simple moving average of $40.98 and a 200-day simple moving average of $41.49. ATI Inc. has a 1-year low of $27.97 and a 1-year high of $47.92. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 21.65 and a beta of 1.27.
Insiders Place Their Bets
In other ATI news, Director James C. Diggs sold 2,674 shares of ATI stock in a transaction that occurred on 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 sale, the director now directly owns 46,591 shares of the company’s stock, valued at approximately $2,091,935.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.71% of the stock is owned by corporate insiders.
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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