Keystone Investors PTE Ltd. lessened its holdings in ATI Inc. (NYSE:ATI – Free Report) by 87.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,415 shares of the basic materials company’s stock after selling 227,865 shares during the period. Keystone Investors PTE Ltd.’s holdings in ATI were worth $3,835,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Quadrant Capital Group LLC lifted its stake in shares of ATI by 1.9% in the 4th quarter. Quadrant Capital Group LLC now owns 15,773 shares of the basic materials company’s stock valued at $1,810,000 after purchasing an additional 289 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of ATI by 5.9% in the 4th quarter. Advisors Asset Management Inc. now owns 97,321 shares of the basic materials company’s stock valued at $11,169,000 after purchasing an additional 5,462 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in shares of ATI by 13.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 10,859 shares of the basic materials company’s stock valued at $1,246,000 after purchasing an additional 1,313 shares during the last quarter. HRT Financial LP lifted its stake in shares of ATI by 586.9% in the 4th quarter. HRT Financial LP now owns 64,091 shares of the basic materials company’s stock valued at $7,355,000 after purchasing an additional 54,760 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of ATI by 48.0% in the 4th quarter. Brooklyn Investment Group now owns 6,687 shares of the basic materials company’s stock valued at $780,000 after purchasing an additional 2,168 shares during the last quarter.
ATI Price Performance
ATI opened at $198.07 on Friday. The stock’s 50-day moving average price is $163.49 and its 200 day moving average price is $141.24. ATI Inc. has a 12-month low of $70.42 and a 12-month high of $203.60. The company has a current ratio of 2.67, a quick ratio of 1.17 and a debt-to-equity ratio of 0.95. The firm has a market cap of $27.03 billion, a price-to-earnings ratio of 65.59, a PEG ratio of 1.72 and a beta of 0.96.
ATI announced that its Board of Directors has authorized a stock buyback program on Thursday, February 19th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
Insiders Place Their Bets
In other ATI news, CEO Kimberly A. Fields sold 59,749 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $179.07, for a total transaction of $10,699,253.43. Following the sale, the chief executive officer owned 218,014 shares in the company, valued at $39,039,766.98. This represents a 21.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.98% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on ATI. Weiss Ratings reissued a “buy (b-)” rating on shares of ATI in a research note on Friday, May 22nd. Zacks Research lowered ATI from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Wall Street Zen lowered ATI from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. BTIG Research increased their target price on ATI from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, Susquehanna increased their target price on ATI from $155.00 to $185.00 and gave the stock a “positive” rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $164.38.
Check Out Our Latest Stock Analysis on ATI
ATI 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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