ATI Inc. (NYSE:ATI) is Mountaineer Partners Management LLC’s 3rd Largest Position

Mountaineer Partners Management LLC boosted its position in ATI Inc. (NYSE:ATI) by 29.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 182,670 shares of the basic materials company’s stock after purchasing an additional 42,020 shares during the period. ATI makes up approximately 7.4% of Mountaineer Partners Management LLC’s holdings, making the stock its 3rd largest holding. Mountaineer Partners Management LLC’s holdings in ATI were worth $10,054,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Capital International Investors grew its position in shares of ATI by 5.4% in the fourth quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company’s stock valued at $875,190,000 after purchasing an additional 817,182 shares in the last quarter. Vanguard Group Inc. grew 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 purchasing an additional 2,020,313 shares in the last quarter. Capital World Investors grew its position in shares of ATI by 100.5% in the fourth quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company’s stock valued at $378,432,000 after purchasing an additional 3,446,919 shares in the last quarter. Invesco Ltd. grew its position in shares of ATI by 4.5% in the fourth quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company’s stock valued at $258,495,000 after purchasing an additional 203,742 shares in the last quarter. Finally, Dendur Capital LP grew its position in shares of ATI by 601.7% in the fourth quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company’s stock valued at $196,328,000 after purchasing an additional 3,058,628 shares in the last quarter.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total value of $3,409,000.00. Following the completion of the sale, the chairman now owns 506,538 shares of the company’s stock, valued at approximately $34,535,760.84. The trade was a 8.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

ATI Trading Up 2.6%

Shares of ATI stock opened at $73.34 on Tuesday. 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 business has a 50-day moving average price of $53.02 and a two-hundred day moving average price of $56.11. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $75.26. The firm has a market cap of $10.35 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 0.85 and a beta of 1.01.

ATI (NYSE:ATI) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. Equities analysts anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ATI. KeyCorp upgraded ATI from a “sector weight” rating to an “overweight” rating and set a $55.00 target price for the company in a research report on Wednesday, April 23rd. BTIG Research set a $90.00 target price on ATI and gave the stock a “buy” rating in a research report on Monday, May 5th. Barclays boosted their target price on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Benchmark restated a “buy” rating and set a $81.00 target price on shares of ATI in a research report on Monday, April 21st. Finally, Susquehanna boosted their target price on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.14.

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.