Sanctuary Advisors LLC bought a new position in shares of ATI Inc. (NYSE:ATI – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 117,432 shares of the basic materials company’s stock, valued at approximately $23,146,000. Sanctuary Advisors LLC owned 0.09% of ATI as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Bank of Nova Scotia raised its stake in shares of ATI by 92.9% in the 1st quarter. Bank of Nova Scotia now owns 467,149 shares of the basic materials company’s stock valued at $67,951,000 after purchasing an additional 224,949 shares during the period. Precision Wealth Strategies LLC bought a new stake in shares of ATI in the first quarter valued at about $1,009,000. Northwestern Mutual Wealth Management Co. boosted 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 buying an additional 106,343 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of ATI during the first quarter worth about $4,599,000. Finally, Illinois Municipal Retirement Fund bought a new position in shares of ATI during the first quarter worth about $1,106,000.
ATI Stock Performance
ATI opened at $206.84 on Monday. The business’s 50-day simple moving average is $200.19 and its 200 day simple moving average is $171.84. ATI Inc. has a 52-week low of $71.94 and a 52-week high of $243.57. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.14 and a current ratio of 2.33. The firm has a market capitalization of $28.17 billion, a PE ratio of 60.66, a PEG ratio of 1.25 and a beta of 0.98.
Wall Street Analysts Forecast Growth
ATI has been the topic of several research reports. Wells Fargo & Company restated an “overweight” rating and issued a $275.00 target price on shares of ATI in a research note on Monday, August 10th. Wall Street Zen upgraded shares of ATI from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. TD Cowen boosted their price objective on shares of ATI from $170.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Zacks Research upgraded shares of ATI from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. Finally, KeyCorp raised their target price on shares of ATI from $211.00 to $258.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. According to MarketBeat, ATI currently has a consensus rating of “Buy” and an average target price of $232.00.
Insiders Place Their Bets
In related news, CEO Kimberly A. Fields sold 59,749 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $179.07, for a total transaction of $10,699,253.43. Following the transaction, the chief executive officer directly owned 218,014 shares in the company, valued at approximately $39,039,766.98. The trade was a 21.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 177,044 shares of company stock worth $33,976,616 in the last 90 days. 0.98% of the stock is currently owned by 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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