ATI Inc. $ATI Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its position in shares of ATI Inc. (NYSE:ATI) by 215.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,425 shares of the basic materials company’s stock after purchasing an additional 50,137 shares during the period. Pictet Asset Management Holding SA’s holdings in ATI were worth $13,907,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in ATI in the second quarter worth approximately $3,687,529,000. Bank of America Corp DE acquired a new position in shares of ATI in the 2nd quarter worth approximately $348,285,000. Bank of New York Mellon Corp acquired a new position in shares of ATI in the 2nd quarter worth approximately $168,996,000. Arrowstreet Capital Limited Partnership raised its position in ATI by 231.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company’s stock valued at $175,094,000 after purchasing an additional 840,455 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of ATI by 1,714.0% during the first quarter. PNC Financial Services Group Inc. now owns 831,736 shares of the basic materials company’s stock worth $120,984,000 after buying an additional 785,885 shares during the period.

Insiders Place Their Bets

In other ATI news, VP Timothy J. Harris sold 16,500 shares of ATI stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $210.01, for a total value of $3,465,165.00. Following the transaction, the vice president directly owned 130,187 shares in the company, valued at approximately $27,340,571.87. This trade represents a 11.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kimberly A. Fields sold 24,845 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $231.19, for a total value of $5,743,915.55. Following the sale, the chief executive officer directly owned 100,719 shares of the company’s stock, valued at approximately $23,285,225.61. This represents a 19.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 85,830 shares of company stock valued at $18,046,361. Insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

ATI has been the subject of a number of research analyst reports. Deutsche Bank restated a “buy” rating and set a $262.00 target price on shares of ATI in a report on Monday, August 10th. Weiss Ratings lowered ATI from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 29th. Wells Fargo & Company cut their price target on ATI from $275.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. KeyCorp lowered their price objective on ATI from $258.00 to $228.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. Finally, Citigroup started coverage on shares of ATI in a report on Thursday, November 5th. They issued a “buy” rating and a $229.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ATI presently has an average rating of “Buy” and an average price target of $222.22.

ATI Trading Up 1.5%

NYSE ATI opened at $190.38 on Friday. The firm’s fifty day moving average price is $185.35 and its 200 day moving average price is $175.52. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.77 and a quick ratio of 1.27. ATI Inc. has a 12 month low of $93.11 and a 12 month high of $243.57. The company has a market capitalization of $25.86 billion, a price-to-earnings ratio of 47.59, a price-to-earnings-growth ratio of 1.09 and a beta of 1.09.

ATI (NYSE:ATI) last announced its earnings results on Thursday, October 29th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.32 billion. ATI had a return on equity of 32.30% and a net margin of 11.08%. The business’s revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. On average, sell-side analysts expect that ATI Inc. will post 5.24 earnings per share for the current fiscal year.

ATI Company Profile

ATI Inc. produces specialty materials and components for aerospace and defense, energy, medical, and other industrial markets. Its materials include titanium and titanium alloys, nickel- and cobalt-based alloys, specialty stainless steels, and other engineered metals designed for demanding applications. The company makes products such as sheet, plate, strip, and bar, along with precision forgings, castings, and engineered components. ATI serves customers worldwide through manufacturing and distribution operations in North America and other regions.