Cetera Trust Company N.A Invests $336,000 in ATI Inc. (NYSE:ATI)

Cetera Trust Company N.A acquired a new position in shares of ATI Inc. (NYSE:ATI) in the fourth quarter, HoldingsChannel reports. The fund acquired 7,398 shares of the basic materials company’s stock, valued at approximately $336,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ATI. Clearstead Advisors LLC increased its stake in shares of ATI by 295.9% in the 3rd 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. Belpointe Asset Management LLC boosted its position in shares of ATI by 65.3% during the first 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 grew its holdings in shares of ATI by 73.1% in the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock valued at $43,000 after buying an additional 441 shares during the period. Point72 Middle East FZE bought a new stake in shares of ATI in the 4th quarter valued at $75,000. Finally, Harbour Investments Inc. bought a new stake in shares of ATI in the 4th quarter valued at $127,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TheStreet raised ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. KeyCorp raised their target price on shares of ATI from $49.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of ATI in a report on Thursday, April 11th. They issued a “buy” rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, ATI presently has an average rating of “Moderate Buy” and a consensus target price of $55.67.

Insider Activity at ATI

In other ATI news, 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 transaction, the vice president now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.71% of the company’s stock.

ATI Stock Down 1.1 %

Shares of NYSE ATI traded down $0.54 during midday trading on Friday, reaching $50.56. The company’s stock had a trading volume of 906,544 shares, compared to its average volume of 786,542. The stock has a 50 day simple moving average of $49.04 and a 200-day simple moving average of $44.29. The company has a current ratio of 2.80, a quick ratio of 1.53 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.43 and a beta of 1.22. ATI Inc. has a fifty-two week low of $34.10 and a fifty-two week high of $52.98.

ATI (NYSE:ATI) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. ATI had a net margin of 8.81% and a return on equity of 24.64%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business earned $0.53 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that ATI Inc. will post 2.26 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.