GAMMA Investing LLC Invests $58,000 in ATI Inc. (NYSE:ATI)

GAMMA Investing LLC acquired a new stake in shares of ATI Inc. (NYSE:ATI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,275 shares of the basic materials company’s stock, valued at approximately $58,000.

Other large investors also recently modified their holdings of the company. Clearstead Advisors LLC grew its position in ATI by 295.9% during the third quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 500 shares during the last quarter. Covestor Ltd raised its position in ATI by 73.1% in the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 441 shares during the period. Accel Wealth Management bought a new stake in ATI in the fourth quarter worth $202,000. Moody National Bank Trust Division purchased a new stake in ATI during the fourth quarter valued at about $217,000. Finally, Jump Financial LLC bought a new position in shares of ATI during the third quarter valued at about $204,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TheStreet upgraded ATI from a “c+” rating to a “b-” rating in a report on Friday, January 26th. KeyCorp lifted their target price on shares of ATI from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of ATI in a report on Thursday, April 11th. They set a “buy” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

ATI Price Performance

ATI opened at $58.85 on Thursday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.53 and a current ratio of 2.81. The stock has a market capitalization of $7.32 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16. The stock’s 50 day moving average price is $50.03 and its 200-day moving average price is $44.91. ATI Inc. has a 52-week low of $34.10 and a 52-week high of $61.58.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. ATI had a net margin of 8.70% and a return on equity of 23.72%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $0.49 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts predict that ATI Inc. will post 2.26 EPS for the current year.

Insider Buying and Selling

In other ATI news, VP Timothy J. Harris sold 6,325 shares of ATI stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.44, for a total transaction of $268,433.00. Following the sale, the vice president now directly owns 109,331 shares of the company’s stock, valued at approximately $4,640,007.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.71% of the stock is owned by insiders.

ATI Profile

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.