Channing Capital Management LLC Has $92.16 Million Stock Position in ATI Inc. (NYSE:ATI)

Channing Capital Management LLC increased its stake in ATI Inc. (NYSE:ATI) by 15.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,674,461 shares of the basic materials company’s stock after buying an additional 226,977 shares during the period. ATI makes up approximately 2.5% of Channing Capital Management LLC’s holdings, making the stock its 9th biggest position. Channing Capital Management LLC’s holdings in ATI were worth $92,162,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of ATI. CIBC Asset Management Inc increased its holdings in shares of ATI by 5.2% in the 4th 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. Hantz Financial Services Inc. grew its position in ATI by 2.1% during the fourth quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company’s stock valued at $643,000 after purchasing an additional 240 shares in the last quarter. Arizona State Retirement System increased its stake in ATI by 0.8% in the 4th quarter. Arizona State Retirement System now owns 36,122 shares of the basic materials company’s stock valued at $1,988,000 after buying an additional 289 shares during the period. KBC Group NV lifted its position in ATI by 12.9% in the 3rd quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after buying an additional 385 shares in the last quarter. Finally, Souders Financial Advisors grew its holdings in shares of ATI by 6.1% during the 3rd quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock valued at $477,000 after acquiring an additional 411 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

ATI Stock Performance

NYSE:ATI opened at $51.30 on Tuesday. The firm has a market capitalization of $7.29 billion, a PE ratio of 20.12, a PEG ratio of 0.85 and a beta of 1.14. ATI Inc. has a 1 year low of $47.58 and a 1 year high of $68.92. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88. The firm’s fifty day simple moving average is $58.16 and its 200 day simple moving average is $59.50.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 EPS 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 period in the previous year, the company posted $0.64 earnings per share. The firm’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 EPS for the current year.

Insiders Place Their Bets

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