Bank of New York Mellon Corp Boosts Holdings in ATI Inc. (NYSE:ATI)

Bank of New York Mellon Corp lifted its holdings in ATI Inc. (NYSE:ATI) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 891,152 shares of the basic materials company’s stock after buying an additional 12,907 shares during the period. Bank of New York Mellon Corp owned approximately 0.62% of ATI worth $49,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new position in shares of ATI in the fourth quarter worth about $25,000. Quarry LP grew its holdings in shares of ATI by 86.4% in the third quarter. Quarry LP now owns 889 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 412 shares during the period. Blue Trust Inc. grew its holdings in shares of ATI by 137.7% in the fourth 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 period. CIBC Asset Management Inc grew its holdings in shares of ATI by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company’s stock valued at $215,000 after purchasing an additional 192 shares during the period. Finally, KBC Group NV grew its holdings in shares of ATI by 12.9% in 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 during the period.

Insiders Place Their Bets

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $66.41, for a total transaction of $657,459.00. Following the sale, the senior vice president now directly owns 25,994 shares of the company’s stock, valued at $1,726,261.54. This trade represents a 27.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

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

ATI Stock Performance

Shares of ATI stock opened at $57.85 on Thursday. The business has a 50-day moving average of $58.17 and a 200 day moving average of $59.75. ATI Inc. has a 12 month low of $47.58 and a 12 month high of $68.92. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32.

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

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.