Epoch Investment Partners Inc. lowered its stake in shares of ATI Inc. (NYSE:ATI – Free Report) by 5.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 85,601 shares of the basic materials company’s stock after selling 4,698 shares during the quarter. Epoch Investment Partners Inc.’s holdings in ATI were worth $12,452,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of ATI by 7.4% in the third quarter. State Street Corp now owns 6,042,244 shares of the basic materials company’s stock worth $491,476,000 after acquiring an additional 415,479 shares during the last quarter. Capital Research Global Investors grew its stake in shares of ATI by 12.0% during the fourth quarter. Capital Research Global Investors now owns 3,611,724 shares of the basic materials company’s stock valued at $414,481,000 after purchasing an additional 386,754 shares during the last quarter. Invesco Ltd. increased its holdings in shares of ATI by 7.4% in the fourth quarter. Invesco Ltd. now owns 3,384,924 shares of the basic materials company’s stock valued at $388,454,000 after purchasing an additional 233,010 shares in the last quarter. Norges Bank acquired a new stake in shares of ATI in the fourth quarter valued at approximately $198,787,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of ATI by 231.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company’s stock valued at $175,094,000 after purchasing an additional 840,455 shares in the last quarter.
ATI Stock Down 1.2%
Shares of NYSE:ATI opened at $197.47 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.67 and a quick ratio of 1.17. The stock has a market cap of $26.95 billion, a price-to-earnings ratio of 65.39, a P/E/G ratio of 1.57 and a beta of 0.96. The company has a 50 day moving average of $185.32 and a 200-day moving average of $159.20. ATI Inc. has a one year low of $70.42 and a one year high of $205.31.
Insider Activity at ATI
In other ATI news, CEO Kimberly A. Fields sold 40,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $182.91, for a total transaction of $7,316,400.00. Following the completion of the sale, the chief executive officer owned 157,321 shares in the company, valued at approximately $28,775,584.11. The trade was a 20.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 160,442 shares of company stock worth $28,535,831. Insiders own 0.98% of the company’s stock.
Analyst Ratings Changes
Several research analysts have issued reports on ATI shares. JPMorgan Chase & Co. upped their price objective on ATI from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $194.00 target price on shares of ATI in a research note on Friday, May 1st. Zacks Research upgraded ATI from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 25th. BTIG Research upped their price target on ATI from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, TD Cowen upped their price target on ATI from $170.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $176.78.
View Our Latest Stock Report on ATI
ATI Company Profile
Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.
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