Thrivent Financial for Lutherans Increases Position in ATI Inc. (NYSE:ATI)

Thrivent Financial for Lutherans lifted its position in shares of ATI Inc. (NYSE:ATI) by 41.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 137,820 shares of the basic materials company’s stock after buying an additional 40,079 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.10% of ATI worth $7,586,000 at the end of the most recent quarter.

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

Insider Activity

In related news, SVP Tina Killough Busch sold 9,900 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was 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 in the company, valued at $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ATI shares. 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 report on Thursday, February 13th. StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Susquehanna increased 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. Finally, Barclays raised their price objective on ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, ATI presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

ATI Stock Performance

Shares of NYSE:ATI opened at $51.94 on Monday. The firm has a fifty day simple moving average of $57.44 and a two-hundred day simple moving average of $58.70. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $7.38 billion, a P/E ratio of 20.37, a PEG ratio of 0.85 and a beta of 1.14. ATI Inc. has a 52 week low of $47.90 and a 52 week high of $68.92.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.64 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. On average, analysts expect that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

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.