Royal Bank of Canada Raises Stock Position in ATI Inc. $ATI

Royal Bank of Canada lifted its holdings in ATI Inc. (NYSE:ATI) by 124.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 171,029 shares of the basic materials company’s stock after buying an additional 94,793 shares during the period. Royal Bank of Canada’s holdings in ATI were worth $24,878,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Rokos Capital Management LLP purchased a new position in ATI in the first quarter worth about $11,683,000. Empowered Funds LLC lifted its stake in shares of ATI by 304.6% in the 1st quarter. Empowered Funds LLC now owns 55,970 shares of the basic materials company’s stock valued at $8,141,000 after purchasing an additional 42,136 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of ATI by 22.7% in the 1st quarter. Quantinno Capital Management LP now owns 40,458 shares of the basic materials company’s stock worth $5,885,000 after purchasing an additional 7,495 shares during the period. Lazard Asset Management LLC increased its position in shares of ATI by 281.4% during the 1st quarter. Lazard Asset Management LLC now owns 24,105 shares of the basic materials company’s stock valued at $3,506,000 after purchasing an additional 17,785 shares during the last quarter. Finally, Gateway Wealth Partners LLC purchased a new stake in ATI during the 1st quarter valued at $500,000.

ATI Stock Up 3.8%

Shares of NYSE:ATI opened at $200.45 on Wednesday. ATI Inc. has a 52-week low of $70.42 and a 52-week high of $205.31. The stock has a market cap of $27.36 billion, a P/E ratio of 66.37, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98. The business’s 50 day moving average is $189.59 and its 200 day moving average is $162.77. The company has a quick ratio of 1.17, a current ratio of 2.67 and a debt-to-equity ratio of 0.95.

Analyst Ratings Changes

ATI has been the subject of several recent analyst reports. Susquehanna lifted their price objective on shares of ATI from $185.00 to $215.00 and gave the stock a “positive” rating in a research note on Thursday, July 9th. BTIG Research increased their target price on shares of ATI from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Weiss Ratings upgraded shares of ATI from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 9th. Wall Street Zen downgraded shares of ATI from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Zacks Research raised shares of ATI from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company’s stock. According to MarketBeat, ATI has an average rating of “Buy” and a consensus target price of $187.62.

Insider Activity

In other news, CEO Kimberly A. Fields sold 59,749 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $179.07, for a total transaction of $10,699,253.43. Following the transaction, the chief executive officer owned 218,014 shares of the company’s stock, valued at approximately $39,039,766.98. This represents a 21.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 192,199 shares of company stock worth $34,601,100. 0.98% of the stock is currently owned by corporate insiders.

ATI Company Profile

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.