Rhumbline Advisers Has $18.86 Million Stock Holdings in ATI Inc. (NYSE:ATI)

Rhumbline Advisers raised its stake in shares of ATI Inc. (NYSE:ATI) by 19.1% during the 1st quarter, HoldingsChannel reports. The firm owned 362,532 shares of the basic materials company’s stock after purchasing an additional 58,241 shares during the quarter. Rhumbline Advisers’ holdings in ATI were worth $18,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new position in ATI during the fourth quarter valued at approximately $94,000. EverSource Wealth Advisors LLC grew its holdings in ATI by 20.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company’s stock valued at $95,000 after purchasing an additional 288 shares during the last quarter. Park Square Financial Group LLC acquired a new position in ATI during the fourth quarter valued at approximately $108,000. Smartleaf Asset Management LLC grew its holdings in ATI by 236.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company’s stock valued at $132,000 after purchasing an additional 1,690 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in ATI by 137.7% during the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 1,516 shares during the last quarter.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $81.64, for a total value of $4,082,000.00. Following the sale, the chairman now owns 406,538 shares in the company, valued at approximately $33,189,762.32. The trade was a 10.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 145,359 shares of company stock worth $10,906,986. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ATI has been the subject of several research reports. Barclays increased their price objective on ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. BTIG Research set a $105.00 price objective on ATI and gave the company a “buy” rating in a research report on Wednesday, May 28th. Benchmark reissued a “buy” rating and issued a $81.00 price objective on shares of ATI in a research report on Monday, April 21st. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, May 20th. Finally, Citigroup raised ATI to a “positive” rating in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.29.

ATI Price Performance

Shares of ATI opened at $84.04 on Friday. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $84.28. The stock has a market cap of $11.86 billion, a P/E ratio of 32.96, a price-to-earnings-growth ratio of 0.85 and a beta of 1.13. The stock’s 50-day moving average price is $62.78 and its two-hundred day moving average price is $58.93.

ATI (NYSE:ATI) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. ATI had a return on equity of 21.16% and a net margin of 8.43%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business posted $0.48 EPS. ATI’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts predict that ATI Inc. will post 2.89 earnings per share for the current year.

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.