Fragasso Financial Advisors Inc Makes New Investment in ATI Inc. (NYSE:ATI)

Fragasso Financial Advisors Inc acquired a new stake in ATI Inc. (NYSE:ATI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,323 shares of the basic materials company’s stock, valued at approximately $403,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Mountaineer Partners Management LLC raised its holdings in ATI by 4,401.2% in the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock valued at $629,683,000 after acquiring an additional 9,201,818 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of ATI by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after purchasing an additional 102,691 shares during the period. Geode Capital Management LLC increased its stake in ATI by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock valued at $130,709,000 after purchasing an additional 5,165 shares during the last quarter. Millennium Management LLC lifted its position in ATI by 165.1% during the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock worth $107,846,000 after buying an additional 1,211,273 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in ATI by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company’s stock worth $91,750,000 after buying an additional 24,224 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on ATI shares. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Susquehanna dropped their price objective on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com lowered ATI from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.71.

ATI Trading Down 0.2 %

Shares of ATI opened at $54.98 on Tuesday. ATI Inc. has a 12 month low of $38.04 and a 12 month high of $68.92. The stock’s 50-day moving average is $56.99 and its two-hundred day moving average is $60.14. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The stock has a market cap of $7.84 billion, a PE ratio of 21.15, a P/E/G ratio of 1.95 and a beta of 1.12.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted $0.55 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. Equities analysts forecast that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the completion of the sale, the chairman now directly owns 436,443 shares in the company, valued at $25,745,772.57. This represents a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.