Mengis Capital Management Inc. Grows Stake in ATI Inc. (NYSE:ATI)

Mengis Capital Management Inc. lifted its stake in ATI Inc. (NYSE:ATI) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,332 shares of the basic materials company’s stock after purchasing an additional 1,530 shares during the quarter. ATI accounts for approximately 0.9% of Mengis Capital Management Inc.’s holdings, making the stock its 28th biggest position. Mengis Capital Management Inc.’s holdings in ATI were worth $4,421,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ATI. ORG Wealth Partners LLC bought a new stake in ATI during the 4th quarter valued at about $25,000. Quarry LP increased its position in shares of ATI by 86.4% during the third quarter. Quarry LP now owns 889 shares of the basic materials company’s stock valued at $59,000 after acquiring an additional 412 shares in the last quarter. Blue Trust Inc. increased its position in shares of ATI by 137.7% during the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 1,516 shares in the last quarter. CIBC Asset Management Inc raised its holdings in ATI by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company’s stock worth $215,000 after acquiring an additional 192 shares during the last quarter. Finally, KBC Group NV lifted its position in ATI by 12.9% in the 3rd quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock valued at $225,000 after acquiring an additional 385 shares in the last quarter.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the completion of the sale, the chairman now owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. The trade was a 5.42 % 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. Also, SVP Tina Killough Busch sold 9,900 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $66.41, for a total value of $657,459.00. Following the completion of the transaction, the senior vice president now directly owns 25,994 shares in the company, valued at $1,726,261.54. This trade represents a 27.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,498 shares of company stock worth $2,288,141. Company insiders own 1.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ATI shares. Susquehanna boosted their price target on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Barclays upped their target price on shares of ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Benchmark lifted their price target on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, ATI presently has an average rating of “Moderate Buy” and an average target price of $75.00.

ATI Stock Down 1.6 %

ATI stock opened at $57.08 on Tuesday. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 0.85 and a beta of 1.10. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44. The business’s 50-day moving average is $57.91 and its two-hundred day moving average is $60.01. ATI Inc. has a fifty-two week low of $45.91 and a fifty-two week high of $68.92.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.19. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. As a group, analysts forecast that ATI Inc. will post 2.89 earnings per share for the current year.

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.