Prudential Financial Inc. Raises Stake in ATI Inc. (NYSE:ATI)

Prudential Financial Inc. raised its stake in shares of ATI Inc. (NYSE:ATI) by 8.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,652 shares of the basic materials company’s stock after buying an additional 11,135 shares during the quarter. Prudential Financial Inc. owned about 0.10% of ATI worth $8,013,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of ATI by 15.2% in the fourth quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock valued at $844,061,000 after acquiring an additional 2,020,313 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of ATI during the 4th quarter valued at $1,464,000. American Century Companies Inc. grew its position in shares of ATI by 13.4% during the 4th quarter. American Century Companies Inc. now owns 1,361,465 shares of the basic materials company’s stock valued at $74,935,000 after purchasing an additional 160,364 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of ATI by 14.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,452 shares of the basic materials company’s stock worth $1,676,000 after purchasing an additional 3,848 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in shares of ATI in the fourth quarter worth $239,000.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ATI. Barclays upped their target price on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Susquehanna boosted their price target 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. Finally, Benchmark raised 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. 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 stock. According to MarketBeat.com, ATI presently has a consensus rating of “Moderate Buy” and an average target price of $75.00.

ATI Price Performance

Shares of ATI stock opened at $51.01 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44. ATI Inc. has a 52-week low of $47.90 and a 52-week high of $68.92. The company has a fifty day moving average of $57.10 and a 200-day moving average of $58.50. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14.

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

Insider Buying and Selling

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 transaction of $657,459.00. Following the completion of the sale, the senior vice president now 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 filing with the SEC, which is available at the SEC website. 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.