FourThought Financial Partners LLC Invests $800,000 in ATI Inc. (NYSE:ATI)

FourThought Financial Partners LLC acquired a new stake in shares of ATI Inc. (NYSE:ATI) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 14,536 shares of the basic materials company’s stock, valued at approximately $800,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new position in ATI in the 4th quarter valued at about $25,000. Quarry LP lifted its stake in shares of ATI by 86.4% during the third quarter. Quarry LP now owns 889 shares of the basic materials company’s stock valued at $59,000 after buying an additional 412 shares during the period. Blue Trust Inc. lifted its stake in shares of ATI by 137.7% during the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock valued at $144,000 after buying an additional 1,516 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of ATI by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company’s stock worth $215,000 after purchasing an additional 192 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of ATI by 12.9% in the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after acquiring an additional 385 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Benchmark lifted their target price on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Susquehanna lifted their price objective on ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Barclays raised their price target on shares of ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, ATI currently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

ATI Price Performance

ATI stock opened at $56.27 on Wednesday. The stock has a 50-day simple moving average of $57.93 and a 200-day simple moving average of $59.97. The firm has a market cap of $8.03 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 0.85 and a beta of 1.10. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44. ATI Inc. has a 1 year low of $45.91 and a 1 year high of $68.92.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. ATI had a net margin of 8.43% and a return on equity of 21.16%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts predict that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the completion of the transaction, the chairman now directly owns 436,443 shares in the company, valued at approximately $25,745,772.57. This represents a 5.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Tina Killough Busch sold 2,598 shares of ATI stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the completion of the sale, the senior vice president now owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,498 shares of company stock valued at $2,288,141 in the last quarter. Company insiders own 1.05% of the company’s stock.

About ATI

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.