ATI Inc. $ATI Holdings Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in ATI Inc. (NYSE:ATI) by 215.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,425 shares of the basic materials company’s stock after acquiring an additional 50,137 shares during the quarter. Pictet Asset Management Holding SA owned 0.05% of ATI worth $13,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signature Equity Partners LLC raised its stake in ATI by 208.5% in the first quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company’s stock worth $26,000 after buying an additional 123 shares in the last quarter. CoreCap Advisors LLC purchased a new position in ATI in the second quarter valued at about $30,000. Retirement Wealth Solutions LLC purchased a new position in ATI in the third quarter valued at about $30,000. Provenance Wealth Advisors LLC purchased a new stake in shares of ATI during the third quarter valued at about $37,000. Finally, V Square Quantitative Management LLC boosted its holdings in shares of ATI by 71.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 220 shares of the basic materials company’s stock valued at $42,000 after buying an additional 92 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ATI shares. Wells Fargo & Company cut their price target on shares of ATI from $275.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Susquehanna upped their price objective on shares of ATI from $215.00 to $265.00 and gave the company a “positive” rating in a report on Friday, August 7th. Weiss Ratings downgraded shares of ATI from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 29th. BTIG Research lowered their price objective on shares of ATI from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Finally, KeyCorp lowered their price target on ATI from $258.00 to $228.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, ATI has a consensus rating of “Buy” and a consensus target price of $222.22.

Insider Buying and Selling

In related news, CEO Kimberly Fields sold 24,845 shares of ATI stock in a transaction dated 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 in the company, valued at approximately $23,285,225.61. The trade was a 19.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Timothy 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 completion of the sale, the vice president directly owned 130,187 shares in the company, valued at $27,340,571.87. This represents a 11.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 85,830 shares of company stock worth $18,046,361 in the last 90 days. Insiders own 0.98% of the company’s stock.

ATI Stock Performance

Shares of NYSE ATI opened at $190.38 on Friday. The company has a market capitalization of $25.86 billion, a PE ratio of 47.59, a price-to-earnings-growth ratio of 1.09 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.27 and a current ratio of 2.77. The company’s fifty day moving average price is $185.35 and its 200 day moving average price is $175.52. ATI Inc. has a 1 year low of $93.11 and a 1 year high of $243.57.

ATI (NYSE:ATI) last issued its quarterly earnings data on Thursday, October 29th. The basic materials company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.37 by $0.09. ATI had a return on equity of 32.30% and a net margin of 11.08%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $0.85 earnings per share. ATI’s quarterly revenue was up 26.5% compared to the same quarter last year. On average, research analysts predict that ATI Inc. will post 5.24 earnings per share for the current 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.