Fairvoy Private Wealth LLC acquired a new stake in ATI Inc. (NYSE:ATI – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,043 shares of the basic materials company’s stock, valued at approximately $879,000.
Other large investors have also modified their holdings of the company. True Wealth Design LLC raised its position in ATI by 642.9% in the 4th quarter. True Wealth Design LLC now owns 260 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 225 shares during the last quarter. Prestige Wealth Management Group LLC purchased a new position in ATI during the 3rd quarter worth $34,000. Allworth Financial LP grew its position in ATI by 50.8% during the 3rd quarter. Allworth Financial LP now owns 534 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 180 shares during the last quarter. Torren Management LLC acquired a new position in ATI in the fourth quarter valued at $52,000. Finally, ARK Investment Management LLC increased its stake in ATI by 378.7% in the third quarter. ARK Investment Management LLC now owns 742 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 587 shares during the period.
ATI Stock Performance
NYSE ATI opened at $199.44 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.17 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $171.43 and its two-hundred day moving average is $147.83. ATI Inc. has a 12-month low of $70.42 and a 12-month high of $205.31. The stock has a market capitalization of $27.22 billion, a price-to-earnings ratio of 66.04, a PEG ratio of 1.70 and a beta of 0.96.
Insider Transactions at ATI
In other ATI news, CEO Kimberly A. Fields sold 59,749 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $179.07, for a total value of $10,699,253.43. Following the completion of the sale, the chief executive officer owned 218,014 shares of the company’s stock, valued at approximately $39,039,766.98. This trade represents a 21.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 120,442 shares of company stock valued at $21,219,431 in the last three months. Corporate insiders own 0.98% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Weiss Ratings cut ATI from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. KeyCorp increased their price objective on ATI from $167.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on ATI from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Wells Fargo & Company started coverage on ATI in a research note on Wednesday, April 1st. They set an “overweight” rating and a $175.00 price target for the company. Finally, BTIG Research increased their price target on ATI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, ATI currently has an average rating of “Moderate Buy” and an average price target of $164.38.
Check Out Our Latest Report on ATI
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.
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