Van ECK Associates Corp Acquires 2,926 Shares of ATI Inc. (NYSE:ATI)

Van ECK Associates Corp boosted its holdings in ATI Inc. (NYSE:ATI) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,868 shares of the basic materials company’s stock after purchasing an additional 2,926 shares during the quarter. Van ECK Associates Corp’s holdings in ATI were worth $3,460,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ATI. ORG Wealth Partners LLC purchased a new position in shares of ATI in the fourth quarter worth $25,000. Quarry LP lifted its stake in ATI by 86.4% in the 3rd quarter. Quarry LP now owns 889 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 412 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of ATI by 137.7% during the 4th quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 1,516 shares during the last quarter. KBC Group NV grew its position in shares of ATI by 12.9% during the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock valued at $225,000 after purchasing an additional 385 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new stake in shares of ATI in the third quarter worth about $239,000.

ATI Stock Performance

NYSE:ATI opened at $61.46 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44. The stock’s fifty day moving average is $57.77 and its 200 day moving average is $60.06. The firm has a market capitalization of $8.77 billion, a PE ratio of 24.10, a PEG ratio of 0.90 and a beta of 1.10. ATI Inc. has a fifty-two week low of $44.15 and a fifty-two week high of $68.92.

ATI (NYSE:ATI) last announced 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. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ATI shares. Susquehanna increased their price target on ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Barclays raised their target price on shares of ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, February 10th. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Benchmark increased their price objective on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.00.

Insiders Place Their Bets

In other ATI news, SVP Tina Killough Busch sold 2,598 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the transaction, the senior vice president now owns 21,553 shares of the company’s stock, valued at $1,293,611.06. This represents a 10.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total value of $1,474,750.00. Following the sale, the chairman now owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. This trade represents a 5.42 % decrease in their ownership of the stock. 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.

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.