KLP Kapitalforvaltning AS Acquires Shares of 26,600 ATI Inc. (NYSE:ATI)

KLP Kapitalforvaltning AS bought a new stake in ATI Inc. (NYSE:ATI) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 26,600 shares of the basic materials company’s stock, valued at approximately $1,464,000.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position 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 valued at $86,031,000 after buying an additional 191,823 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of ATI in the 3rd quarter worth approximately $765,000. Franklin Resources Inc. grew its position in ATI by 16.2% during 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 during the last quarter. Covea Finance increased its holdings in ATI by 32.7% during 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 in the last quarter. Finally, Bank of Montreal Can raised its position in ATI by 38.4% in the 3rd quarter. Bank of Montreal Can now owns 157,254 shares of the basic materials company’s stock valued at $10,421,000 after purchasing an additional 43,648 shares during the last quarter.

Insider Activity at ATI

In other news, SVP Tina Killough Busch sold 9,900 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 25,994 shares of the company’s stock, valued at $1,726,261.54. The trade was a 27.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.71% of the company’s stock.

ATI Price Performance

Shares of ATI stock opened at $51.01 on Friday. The firm’s 50 day moving average price is $57.10 and its two-hundred day moving average price is $58.50. The stock has a market cap of $7.25 billion, a PE ratio of 20.00, a PEG ratio of 0.85 and a beta of 1.14. ATI Inc. has a 52-week low of $47.90 and a 52-week high of $68.92. 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 (NYSE:ATI) last released its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.19. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. As a group, analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Analyst Ratings Changes

ATI has been the topic of several research analyst reports. Benchmark increased their target price on ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Susquehanna increased 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 raised shares of ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Barclays increased their price target on shares of ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.00.

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.