Zurcher Kantonalbank Zurich Cantonalbank Grows Position in ATI Inc. (NYSE:ATI)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ATI Inc. (NYSE:ATI) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,545 shares of the basic materials company’s stock after buying an additional 3,063 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ATI were worth $1,736,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in ATI by 14.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company’s stock valued at $86,031,000 after purchasing an additional 191,823 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in ATI in the third quarter valued at approximately $765,000. Franklin Resources Inc. boosted its holdings in ATI by 16.2% in the third quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock valued at $27,993,000 after purchasing an additional 61,999 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in ATI by 16.9% in the third quarter. Advisors Asset Management Inc. now owns 77,022 shares of the basic materials company’s stock valued at $5,154,000 after purchasing an additional 11,154 shares in the last quarter. Finally, Covea Finance boosted its holdings in ATI by 32.7% in the fourth quarter. Covea Finance now owns 65,000 shares of the basic materials company’s stock valued at $3,578,000 after purchasing an additional 16,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

ATI has been the subject of a number of research analyst reports. Benchmark upped their price target on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Susquehanna increased their price objective on ATI from $70.00 to $73.00 and gave the company a “positive” rating in a report on Wednesday, February 5th. StockNews.com raised ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Barclays increased their price objective on ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

ATI Price Performance

Shares of NYSE ATI opened at $51.38 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. The stock has a fifty day moving average price of $57.74 and a 200 day moving average price of $58.99. ATI Inc. has a 1-year low of $47.58 and a 1-year high of $68.92. The company has a market cap of $7.31 billion, a PE ratio of 20.15, a P/E/G ratio of 0.85 and a beta of 1.14.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Insider Buying and Selling

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total value of $657,459.00. Following the completion of the transaction, the senior vice president now owns 25,994 shares in the company, valued at approximately $1,726,261.54. This represents a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.71% of the company’s stock.

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.