ATI Inc. (NYSE:ATI – Get Free Report)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $206.35 and last traded at $205.62, with a volume of 104027 shares. The stock had previously closed at $200.15.
Wall Street Analysts Forecast Growth
ATI has been the topic of several recent research reports. Wall Street Zen downgraded ATI from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. BTIG Research increased 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $194.00 price objective 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 report on Thursday, June 25th. Finally, Weiss Ratings raised shares of ATI from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $187.62.
Get Our Latest Stock Analysis on ATI
ATI Stock Performance
Insider Buying and Selling at ATI
In related news, CEO Kimberly A. Fields sold 59,749 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $179.07, for a total value of $10,699,253.43. Following the transaction, the chief executive officer directly owned 218,014 shares of the company’s stock, valued at approximately $39,039,766.98. The trade was a 21.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 192,199 shares of company stock valued at $34,601,100. 0.98% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATI. Bank of Nova Scotia increased its stake in shares of ATI by 92.9% in the first quarter. Bank of Nova Scotia now owns 467,149 shares of the basic materials company’s stock worth $67,951,000 after purchasing an additional 224,949 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of ATI by 456.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 129,617 shares of the basic materials company’s stock worth $14,875,000 after acquiring an additional 106,343 shares in the last quarter. Precision Wealth Strategies LLC bought a new position in shares of ATI in the first quarter worth $1,009,000. Y Intercept Hong Kong Ltd purchased a new position in shares of ATI in the first quarter valued at $4,599,000. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of ATI in the first quarter valued at $1,106,000.
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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