CIBC Asset Management Inc Buys 192 Shares of ATI Inc. (NYSE:ATI)

CIBC Asset Management Inc grew its stake in ATI Inc. (NYSE:ATI) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,915 shares of the basic materials company’s stock after purchasing an additional 192 shares during the quarter. CIBC Asset Management Inc’s holdings in ATI were worth $215,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of ATI by 17.8% in the fourth quarter. Principal Financial Group Inc. now owns 690,215 shares of the basic materials company’s stock valued at $37,989,000 after purchasing an additional 104,267 shares in the last quarter. Rhumbline Advisers lifted its holdings in ATI by 5.9% during the fourth quarter. Rhumbline Advisers now owns 304,291 shares of the basic materials company’s stock worth $16,748,000 after acquiring an additional 16,975 shares during the period. Blue Trust Inc. lifted its holdings in ATI by 137.7% during the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock worth $144,000 after acquiring an additional 1,516 shares during the period. Van ECK Associates Corp lifted its holdings in ATI by 4.9% during the fourth quarter. Van ECK Associates Corp now owns 62,868 shares of the basic materials company’s stock worth $3,460,000 after acquiring an additional 2,926 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in ATI by 14.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 69,000 shares of the basic materials company’s stock worth $3,798,000 after acquiring an additional 8,800 shares during the period.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated Wednesday, December 4th. The stock was 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 owns 436,443 shares of the company’s stock, valued at $25,745,772.57. The trade was a 5.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Tina Killough Busch sold 2,598 shares of ATI stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the sale, the senior vice president now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 37,498 shares of company stock valued at $2,288,141 over the last 90 days. Insiders own 1.05% of the company’s stock.

ATI Price Performance

ATI stock opened at $56.27 on Wednesday. ATI Inc. has a 52 week low of $45.91 and a 52 week high of $68.92. The business has a 50-day simple moving average of $57.93 and a 200 day simple moving average of $59.97. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The stock has a market cap of $8.03 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 0.85 and a beta of 1.10.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. On average, research analysts forecast that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ATI has been the topic of a number of recent analyst reports. Benchmark lifted their price target on ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Susquehanna raised their target price on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. StockNews.com raised ATI from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Barclays raised their target price on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.00.

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.