Capital International Investors Boosts Position in ATI Inc. (NYSE:ATI)

Capital International Investors raised its stake in ATI Inc. (NYSE:ATI) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,409,897 shares of the basic materials company’s stock after purchasing an additional 203,012 shares during the period. Capital International Investors owned 12.38% of ATI worth $788,524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ATI. Vanguard Group Inc. boosted its holdings in shares of ATI by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock valued at $733,720,000 after buying an additional 132,478 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in ATI by 19.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock valued at $165,767,000 after acquiring an additional 594,644 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ATI by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,722 shares of the basic materials company’s stock worth $105,394,000 after purchasing an additional 139,694 shares during the last quarter. Capital World Investors increased its position in shares of ATI by 0.4% during the fourth quarter. Capital World Investors now owns 1,974,652 shares of the basic materials company’s stock worth $89,787,000 after purchasing an additional 7,716 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of ATI by 1,393.2% in the 4th quarter. Point72 Asset Management L.P. now owns 1,539,536 shares of the basic materials company’s stock valued at $70,003,000 after purchasing an additional 1,436,436 shares during the last quarter.

ATI Stock Performance

Shares of ATI stock traded up $1.26 on Friday, reaching $65.54. 1,257,031 shares of the stock were exchanged, compared to its average volume of 1,478,856. The company has a current ratio of 2.81, a quick ratio of 1.37 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $8.16 billion, a PE ratio of 26.32, a PEG ratio of 1.51 and a beta of 1.07. ATI Inc. has a 1-year low of $35.03 and a 1-year high of $66.43. The business has a fifty day moving average price of $58.42 and a two-hundred day moving average price of $52.14.

ATI (NYSE:ATI) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. ATI had a return on equity of 23.72% and a net margin of 8.70%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $0.49 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts anticipate that ATI Inc. will post 2.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Northcoast Research downgraded ATI from a “neutral” rating to a “sell” rating in a research note on Friday, June 14th. KeyCorp lifted their target price on shares of ATI from $58.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Benchmark raised their price objective on shares of ATI from $56.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Barclays upped their target price on shares of ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on ATI in a report on Thursday, April 11th. They set a “buy” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.20.

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.