Bull Harbor Capital LLC Acquires Shares of 2,686 ATI Inc. $ATI

Bull Harbor Capital LLC bought a new position in shares of ATI Inc. (NYSE:ATI) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,686 shares of the basic materials company’s stock, valued at approximately $391,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of ATI by 7.4% in the 3rd quarter. State Street Corp now owns 6,042,244 shares of the basic materials company’s stock valued at $491,476,000 after acquiring an additional 415,479 shares during the last quarter. Capital Research Global Investors raised its position in shares of ATI by 12.0% during the 4th quarter. Capital Research Global Investors now owns 3,611,724 shares of the basic materials company’s stock valued at $414,481,000 after acquiring an additional 386,754 shares in the last quarter. Invesco Ltd. lifted its stake in ATI by 7.4% during the fourth quarter. Invesco Ltd. now owns 3,384,924 shares of the basic materials company’s stock worth $388,454,000 after purchasing an additional 233,010 shares during the last quarter. Norges Bank bought a new position in ATI during the fourth quarter worth $198,787,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in ATI by 231.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company’s stock worth $175,094,000 after purchasing an additional 840,455 shares during the period.

Analyst Ratings Changes

Several analysts have weighed in on ATI shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $194.00 target price on shares of ATI in a research note on Friday, May 1st. TD Cowen raised their price target on shares of ATI from $170.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. KeyCorp lifted their price target on shares of ATI from $175.00 to $211.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. boosted their price objective on shares of ATI from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of ATI from a “buy” rating to a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $176.78.

ATI Trading Up 3.2%

Shares of NYSE ATI opened at $187.76 on Friday. The company has a market cap of $25.62 billion, a price-to-earnings ratio of 62.17, a price-to-earnings-growth ratio of 1.45 and a beta of 0.96. ATI Inc. has a 12-month low of $70.42 and a 12-month high of $205.31. The company has a current ratio of 2.67, a quick ratio of 1.17 and a debt-to-equity ratio of 0.95. The stock’s 50 day simple moving average is $188.34 and its 200 day simple moving average is $161.47.

ATI (NYSE:ATI) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.19 billion. ATI had a return on equity of 26.44% and a net margin of 9.26%.The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. Equities research analysts expect that ATI Inc. will post 4.49 EPS for the current year.

Insiders Place Their Bets

In other ATI news, CEO Kimberly A. Fields sold 31,757 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $190.99, for a total value of $6,065,269.43. Following the sale, the chief executive officer directly owned 125,564 shares in the company, valued at approximately $23,981,468.36. This trade represents a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 192,199 shares of company stock valued at $34,601,100 over the last quarter. 0.98% of the stock is owned by company insiders.

ATI Profile

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.