Victory Capital Management Inc. Boosts Stock Position in ATI Inc. (NYSE:ATI)

Victory Capital Management Inc. increased its stake in shares of ATI Inc. (NYSE:ATI) by 14.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,109,192 shares of the basic materials company’s stock after buying an additional 135,820 shares during the quarter. Victory Capital Management Inc. owned about 0.87% of ATI worth $50,435,000 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 stock. Palestra Capital Management LLC raised its holdings in shares of ATI by 839.0% during the 3rd quarter. Palestra Capital Management LLC now owns 2,190,728 shares of the basic materials company’s stock worth $90,148,000 after acquiring an additional 1,957,416 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of ATI by 36.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,660,875 shares of the basic materials company’s stock valued at $68,345,000 after buying an additional 446,027 shares during the period. Charles Schwab Investment Management Inc. grew its position in ATI by 34.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,581,625 shares of the basic materials company’s stock worth $65,084,000 after acquiring an additional 404,797 shares during the period. Northern Trust Corp increased its stake in ATI by 4.5% during the third quarter. Northern Trust Corp now owns 1,441,549 shares of the basic materials company’s stock worth $59,320,000 after acquiring an additional 61,582 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in ATI by 3.3% in the fourth quarter. Federated Hermes Inc. now owns 1,258,969 shares of the basic materials company’s stock valued at $57,245,000 after purchasing an additional 40,419 shares during the period.

Analyst Upgrades and Downgrades

ATI has been the subject of a number of recent analyst reports. TheStreet raised ATI from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. KeyCorp lifted their price target on shares of ATI from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, ATI has a consensus rating of “Moderate Buy” and an average target price of $56.00.

ATI Stock Performance

NYSE ATI opened at $58.16 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.81 and a quick ratio of 1.53. The company has a market cap of $7.24 billion, a P/E ratio of 23.36, a P/E/G ratio of 1.55 and a beta of 1.17. The stock has a 50-day moving average of $50.75 and a two-hundred day moving average of $45.24. ATI Inc. has a 1-year low of $34.10 and a 1-year high of $61.58.

ATI (NYSE:ATI) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. ATI had a net margin of 8.70% and a return on equity of 23.72%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $0.49 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. As a group, analysts anticipate that ATI Inc. will post 2.4 EPS for the current year.

Insider Activity

In other ATI news, VP Timothy J. Harris sold 6,325 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.44, for a total value of $268,433.00. Following the sale, the vice president now owns 109,331 shares of the company’s stock, valued at approximately $4,640,007.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.71% of the company’s stock.

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.