Oak Thistle LLC Acquires Shares of 5,068 ATI Inc. (NYSE:ATI)

Oak Thistle LLC bought a new position in shares of ATI Inc. (NYSE:ATI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,068 shares of the basic materials company’s stock, valued at approximately $279,000.

A number of other hedge funds have also modified their holdings of the business. ORG Wealth Partners LLC purchased a new stake in ATI during the 4th quarter valued at about $25,000. Quarry LP acquired a new position in shares of ATI during the 2nd quarter worth approximately $26,000. UMB Bank n.a. grew its position in shares of ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 791 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of ATI by 66.0% in the third quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 1,330 shares during the last quarter. Finally, KBC Group NV lifted its position in ATI by 12.9% during the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after buying an additional 385 shares in the last quarter.

Insider Activity

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the transaction, the chairman now owns 436,443 shares of the company’s stock, valued at $25,745,772.57. This trade represents a 5.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Tina Killough Busch sold 2,598 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the sale, the senior vice president now directly owns 21,553 shares in the company, valued at $1,293,611.06. This represents a 10.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Susquehanna dropped their target price on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a report on Friday. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.71.

ATI Price Performance

Shares of ATI opened at $57.16 on Friday. The firm has a 50-day simple moving average of $57.00 and a two-hundred day simple moving average of $60.12. The stock has a market cap of $8.15 billion, a PE ratio of 21.99, a P/E/G ratio of 1.47 and a beta of 1.12. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted $0.55 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts forecast that ATI Inc. will post 2.28 EPS for the current year.

ATI 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.