Prudential Financial Inc. Increases Stock Holdings in ATI Inc. (NYSE:ATI)

Prudential Financial Inc. raised its stake in shares of ATI Inc. (NYSE:ATI) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,652 shares of the basic materials company’s stock after purchasing an additional 11,135 shares during the quarter. Prudential Financial Inc.’s holdings in ATI were worth $8,013,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ATI. Vanguard Group Inc. boosted its stake in shares of ATI by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock valued at $844,061,000 after purchasing an additional 2,020,313 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in ATI in the fourth quarter worth about $1,464,000. American Century Companies Inc. boosted its position in ATI by 13.4% during the 4th quarter. American Century Companies Inc. now owns 1,361,465 shares of the basic materials company’s stock valued at $74,935,000 after acquiring an additional 160,364 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of ATI by 14.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,452 shares of the basic materials company’s stock worth $1,676,000 after acquiring an additional 3,848 shares during the period. Finally, Magnetar Financial LLC bought a new position in shares of ATI in the 4th quarter worth approximately $239,000.

Insider Buying and Selling at ATI

In other news, SVP Tina Killough Busch sold 9,900 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the transaction, the senior vice president now directly owns 25,994 shares of the company’s stock, valued at $1,726,261.54. This represents a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.71% of the company’s stock.

ATI Stock Performance

Shares of ATI stock opened at $51.01 on Friday. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 0.85 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. ATI Inc. has a 1 year low of $47.90 and a 1 year high of $68.92. The firm’s 50-day moving average is $57.10 and its 200 day moving average is $58.50.

ATI (NYSE:ATI) last issued its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) 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 the consensus estimate of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Sell-side analysts anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.