Proficio Capital Partners LLC Acquires New Shares in ATI Inc. (NYSE:ATI)

Proficio Capital Partners LLC acquired a new stake in ATI Inc. (NYSE:ATI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,228 shares of the basic materials company’s stock, valued at approximately $618,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ATI. Mountaineer Partners Management LLC raised its holdings in shares of ATI by 4,401.2% in the third quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock valued at $629,683,000 after acquiring an additional 9,201,818 shares in the last quarter. Forest Avenue Capital Management LP bought a new stake in shares of ATI in the third quarter valued at about $28,700,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of ATI by 177.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 451,982 shares of the basic materials company’s stock valued at $30,242,000 after acquiring an additional 289,229 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of ATI in the third quarter valued at about $18,928,000. Finally, Artemis Investment Management LLP bought a new stake in shares of ATI in the fourth quarter valued at about $8,103,000.

Insider Transactions at ATI

In other news, SVP Tina Killough Busch sold 9,900 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the sale, the senior vice president now owns 25,994 shares in the company, valued at approximately $1,726,261.54. The trade was a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.

ATI Price Performance

Shares of ATI stock opened at $55.37 on Monday. ATI Inc. has a fifty-two week low of $47.58 and a fifty-two week high of $68.92. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 0.85 and a beta of 1.14. 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 50-day simple moving average is $58.24 and its 200-day simple moving average is $59.59.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Barclays boosted their target price on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Susquehanna boosted their target price on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a report on Wednesday, February 5th. Finally, Benchmark boosted their target price on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $75.00.

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.