Assenagon Asset Management S.A. Has $16.15 Million Stock Position in ATI Inc. (NYSE:ATI)

Assenagon Asset Management S.A. increased its position in ATI Inc. (NYSE:ATI) by 735.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 355,202 shares of the basic materials company’s stock after purchasing an additional 312,699 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.28% of ATI worth $16,151,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ATI. Evergreen Capital Management LLC lifted its position in ATI by 4.1% during the 3rd quarter. Evergreen Capital Management LLC now owns 6,582 shares of the basic materials company’s stock worth $271,000 after buying an additional 258 shares in the last quarter. Inspire Investing LLC grew its position in shares of ATI by 4.1% during the 3rd quarter. Inspire Investing LLC now owns 7,409 shares of the basic materials company’s stock worth $305,000 after purchasing an additional 291 shares in the last quarter. Belpointe Asset Management LLC grew its position in shares of ATI by 65.3% during the 1st quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 333 shares in the last quarter. Covestor Ltd boosted its position in shares of ATI by 148.1% during the 2nd quarter. Covestor Ltd now owns 603 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 360 shares in the last quarter. Finally, Guidance Capital Inc. boosted its position in shares of ATI by 6.4% during the 3rd quarter. Guidance Capital Inc. now owns 6,343 shares of the basic materials company’s stock worth $258,000 after acquiring an additional 382 shares in the last quarter.

ATI Stock Performance

NYSE ATI opened at $50.92 on Thursday. The company’s 50 day moving average is $45.62 and its 200-day moving average is $43.30. ATI Inc. has a 12-month low of $34.10 and a 12-month high of $51.95. The company has a quick ratio of 1.53, a current ratio of 2.80 and a debt-to-equity ratio of 1.45. The firm has a market cap of $6.51 billion, a P/E ratio of 20.29 and a beta of 1.21.

ATI (NYSE:ATI) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. ATI had a net margin of 8.81% and a return on equity of 24.64%. ATI’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. Sell-side analysts predict that ATI Inc. will post 2.34 earnings per share for the current year.

ATI declared that its board has approved a share buyback program on Wednesday, November 29th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the basic materials company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at ATI

In related news, insider Elliot S. Davis sold 1,789 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $43.06, for a total transaction of $77,034.34. Following the completion of the transaction, the insider now owns 136,050 shares of the company’s stock, valued at $5,858,313. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other ATI news, insider Elliot S. Davis sold 1,789 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $43.06, for a total value of $77,034.34. Following the completion of the transaction, the insider now owns 136,050 shares of the company’s stock, valued at approximately $5,858,313. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Timothy J. Harris sold 6,325 shares of the business’s 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 completion of the transaction, the vice president now directly owns 109,331 shares of the company’s stock, valued at approximately $4,640,007.64. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ATI. TheStreet raised shares of ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Benchmark reiterated a “buy” rating and set a $53.00 price objective on shares of ATI in a research report on Monday, December 4th. Finally, KeyCorp increased their price objective on shares of ATI from $49.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, ATI has a consensus rating of “Moderate Buy” and an average price target of $52.80.

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.