J. Goldman & Co LP Takes $14.63 Million Position in ATI Inc. (NYSE:ATI)

J. Goldman & Co LP purchased a new stake in ATI Inc. (NYSE:ATI) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 265,851 shares of the basic materials company’s stock, valued at approximately $14,632,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. ORG Wealth Partners LLC bought a new position in shares of ATI during the 4th quarter worth about $25,000. Mainstream Capital Management LLC acquired a new position in ATI during the fourth quarter worth $94,000. EverSource Wealth Advisors LLC lifted its holdings in ATI by 20.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company’s stock valued at $95,000 after purchasing an additional 288 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of ATI by 236.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company’s stock worth $132,000 after buying an additional 1,690 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of ATI by 137.7% in the 4th quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock worth $144,000 after acquiring an additional 1,516 shares in the last quarter.

ATI Stock Performance

ATI stock opened at $71.46 on Friday. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $72.33. 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 company has a market cap of $10.08 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 0.85 and a beta of 1.01. The business’s fifty day moving average is $52.71 and its 200-day moving average is $56.07.

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

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total value of $3,409,000.00. Following the sale, the chairman now directly owns 506,538 shares in the company, valued at approximately $34,535,760.84. This trade represents a 8.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on ATI. Barclays lifted 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. BTIG Research set a $90.00 price objective on shares of ATI and gave the company a “buy” rating in a research report on Monday, May 5th. Susquehanna increased their price target on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. KeyCorp upgraded shares of ATI from a “sector weight” rating to an “overweight” rating and set a $55.00 price objective for the company in a research report on Wednesday, April 23rd. Finally, StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.14.

About ATI

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.