Artemis Investment Management LLP Buys New Shares in ATI Inc. (NYSE:ATI)

Artemis Investment Management LLP acquired a new stake in shares of ATI Inc. (NYSE:ATI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 147,220 shares of the basic materials company’s stock, valued at approximately $8,103,000. Artemis Investment Management LLP owned about 0.10% of ATI at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. ORG Wealth Partners LLC bought a new position in ATI during the 4th quarter worth approximately $25,000. Quarry LP bought a new stake in ATI during the 2nd quarter valued at $26,000. UMB Bank n.a. increased its position in shares of ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 791 shares during the period. GAMMA Investing LLC raised its stake in shares of ATI by 66.0% during the third quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock valued at $224,000 after acquiring an additional 1,330 shares during the last quarter. Finally, KBC Group NV boosted its holdings 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 worth $225,000 after purchasing an additional 385 shares during the period.

ATI Stock Down 0.5 %

Shares of ATI opened at $57.16 on Monday. ATI Inc. has a 12-month low of $38.04 and a 12-month high of $68.92. The business’s 50 day moving average is $57.00 and its 200 day moving average is $60.17. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $8.15 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.47 and a beta of 1.12.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. Research analysts expect that ATI Inc. will post 2.28 earnings per share for the current fiscal year.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the chairman now directly owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. This represents a 5.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tina Killough Busch sold 2,598 shares of ATI stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the completion of the sale, the senior vice president now owns 21,553 shares of the company’s stock, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ATI. StockNews.com raised ATI from a “sell” rating to a “hold” rating in a research report on Friday. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Susquehanna lowered their target price on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.71.

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.