Goldman Sachs Group Inc. Purchases 315,506 Shares of ATI Inc. (NYSE:ATI)

Goldman Sachs Group Inc. raised its position in shares of ATI Inc. (NYSE:ATI) by 31.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,306,784 shares of the basic materials company’s stock after purchasing an additional 315,506 shares during the quarter. Goldman Sachs Group Inc. owned 1.02% of ATI worth $59,419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Palestra Capital Management LLC grew its position in ATI by 839.0% during the third quarter. Palestra Capital Management LLC now owns 2,190,728 shares of the basic materials company’s stock valued at $90,148,000 after buying an additional 1,957,416 shares during the period. Point72 Asset Management L.P. raised its holdings in 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 worth $70,003,000 after purchasing an additional 1,436,436 shares during the period. Norges Bank purchased a new position in ATI during the fourth quarter valued at $55,855,000. Frontier Capital Management Co. LLC grew its holdings in ATI by 19.5% during 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 purchasing an additional 594,644 shares during the period. Finally, Hawk Ridge Capital Management LP bought a new position in shares of ATI in the third quarter worth about $18,727,000.

ATI Trading Up 0.6 %

Shares of ATI stock opened at $55.18 on Wednesday. ATI Inc. has a twelve month low of $35.03 and a twelve month high of $62.44. The company has a quick ratio of 1.37, a current ratio of 2.81 and a debt-to-equity ratio of 1.56. The business has a 50-day moving average price of $56.85 and a 200-day moving average price of $49.28. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.37 and a beta of 1.12.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. Equities research analysts anticipate that ATI Inc. will post 2.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ATI shares. KeyCorp lifted their price target on shares of ATI from $58.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Northcoast Research lowered ATI from a “neutral” rating to a “sell” rating in a research note on Friday, June 14th. Barclays boosted their price objective on ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on ATI in a research report on Thursday, April 11th. They set a “buy” rating and a $70.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.60.

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.