Magnetar Financial LLC Makes New Investment in ATI Inc. (NYSE:ATI)

Magnetar Financial LLC acquired a new stake in ATI Inc. (NYSE:ATI) during the 4th quarter, Holdings Channel reports. The firm acquired 4,350 shares of the basic materials company’s stock, valued at approximately $239,000.

A number of other hedge funds have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ATI in the third quarter worth $2,917,000. Charles Schwab Investment Management Inc. increased its holdings in ATI by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company’s stock valued at $91,750,000 after acquiring an additional 24,224 shares during the last quarter. Cerity Partners LLC lifted its stake in ATI by 149.4% in the 3rd quarter. Cerity Partners LLC now owns 15,071 shares of the basic materials company’s stock worth $1,008,000 after purchasing an additional 9,027 shares in the last quarter. Algert Global LLC boosted its holdings in shares of ATI by 197.5% during the 3rd quarter. Algert Global LLC now owns 72,632 shares of the basic materials company’s stock valued at $4,860,000 after purchasing an additional 48,220 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of ATI by 38.4% during the third quarter. Bank of Montreal Can now owns 157,254 shares of the basic materials company’s stock valued at $10,421,000 after purchasing an additional 43,648 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have issued reports on ATI. Barclays lifted their price objective on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Susquehanna raised their price objective on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Benchmark increased their price target on ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One 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’s stock. According to data from MarketBeat.com, ATI presently has an average rating of “Moderate Buy” and an average target price of $75.00.

ATI Price Performance

ATI stock opened at $51.94 on Monday. ATI Inc. has a 1 year low of $47.90 and a 1 year high of $68.92. The firm has a market capitalization of $7.38 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14. The business has a 50 day simple moving average of $57.44 and a 200-day simple moving average of $58.70. 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 announced its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. Equities research analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Activity at ATI

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of ATI stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the transaction, the senior vice president now owns 25,994 shares of the company’s stock, valued at $1,726,261.54. The trade was a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.71% of the stock is owned by corporate insiders.

ATI Company 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.