Norges Bank Purchases New Position in ATI Inc. (NYSE:ATI)

Norges Bank acquired a new position in ATI Inc. (NYSE:ATI) in the 4th quarter, HoldingsChannel reports. The firm acquired 1,545,180 shares of the basic materials company’s stock, valued at approximately $85,047,000.

A number of other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in ATI by 14.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company’s stock worth $86,031,000 after buying an additional 191,823 shares in the last quarter. Franklin Resources Inc. raised its position in shares of ATI by 16.2% in the 3rd quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock worth $27,993,000 after acquiring an additional 61,999 shares in the last quarter. Covea Finance lifted its stake in shares of ATI by 32.7% in the 4th quarter. Covea Finance now owns 65,000 shares of the basic materials company’s stock valued at $3,578,000 after purchasing an additional 16,000 shares during the period. Maven Securities LTD bought a new stake in shares of ATI during the third quarter valued at approximately $1,723,000. Finally, Cerity Partners LLC grew its stake in ATI by 149.4% in the third quarter. Cerity Partners LLC now owns 15,071 shares of the basic materials company’s stock worth $1,008,000 after purchasing an additional 9,027 shares during the period.

Analysts Set New Price Targets

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

ATI Price Performance

Shares of NYSE ATI opened at $54.02 on Thursday. The firm has a market cap of $7.68 billion, a P/E ratio of 21.18, a PEG ratio of 0.85 and a beta of 1.14. ATI Inc. has a twelve month low of $47.90 and a twelve month high of $68.92. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The company has a 50 day moving average of $56.81 and a 200 day moving average of $58.31.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insider Activity

In related news, SVP Tina Killough Busch sold 9,900 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the sale, the senior vice president now owns 25,994 shares in the company, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.71% of the company’s stock.

ATI Company Profile

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.