Precision Wealth Strategies LLC bought a new stake in ATI Inc. (NYSE:ATI – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,939 shares of the basic materials company’s stock, valued at approximately $1,009,000.
Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of ATI by 53.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 25,648 shares of the basic materials company’s stock valued at $3,103,000 after acquiring an additional 8,939 shares during the last quarter. Nordea Investment Management AB acquired a new position in shares of ATI in the 4th quarter worth approximately $6,114,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ATI by 456.9% in the 4th 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 during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of ATI by 65.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 25,214 shares of the basic materials company’s stock worth $2,894,000 after purchasing an additional 10,004 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of ATI during the 1st quarter worth approximately $4,599,000.
ATI Price Performance
Shares of ATI opened at $185.77 on Friday. ATI Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $205.31. The firm’s 50 day moving average price is $181.89 and its 200 day moving average price is $156.44. The company has a market cap of $25.35 billion, a P/E ratio of 61.51, a PEG ratio of 1.48 and a beta of 0.96. The company has a quick ratio of 1.17, a current ratio of 2.67 and a debt-to-equity ratio of 0.95.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on ATI shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $194.00 target price on shares of ATI in a research report on Friday, May 1st. Wells Fargo & Company began coverage on ATI in a research report on Wednesday, April 1st. They set an “overweight” rating and a $175.00 price target for the company. Susquehanna lifted their price objective on ATI from $185.00 to $215.00 and gave the company a “positive” rating in a research note on Thursday, July 9th. Weiss Ratings upgraded ATI from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 9th. Finally, KeyCorp increased their target price on ATI from $175.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $176.78.
View Our Latest Analysis on ATI
Insider Activity
In related news, CEO Kimberly A. Fields sold 40,000 shares of ATI stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $182.91, for a total value of $7,316,400.00. Following the completion of the transaction, the chief executive officer directly owned 157,321 shares in the company, valued at approximately $28,775,584.11. This trade represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 160,442 shares of company stock valued at $28,535,831 in the last 90 days. 0.98% of the stock is currently owned by company insiders.
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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