Gateway Wealth Partners LLC Invests $500,000 in ATI Inc. $ATI

Gateway Wealth Partners LLC acquired a new stake in ATI Inc. (NYSE:ATI) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,439 shares of the basic materials company’s stock, valued at approximately $500,000.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of ATI by 8.1% during the 1st quarter. Royal Bank of Canada now owns 60,369 shares of the basic materials company’s stock valued at $3,140,000 after acquiring an additional 4,542 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of ATI by 49.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company’s stock worth $32,984,000 after purchasing an additional 209,480 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of ATI in the 2nd quarter worth $324,000. M&T Bank Corp acquired a new stake in shares of ATI during the second quarter worth $317,000. Finally, First Trust Advisors LP grew its stake in shares of ATI by 4.9% during the second quarter. First Trust Advisors LP now owns 197,214 shares of the basic materials company’s stock worth $17,028,000 after purchasing an additional 9,234 shares during the period.

ATI Price Performance

ATI opened at $181.87 on Friday. The stock has a market cap of $24.82 billion, a P/E ratio of 60.22, a P/E/G ratio of 1.42 and a beta of 0.96. ATI Inc. has a 12 month low of $70.42 and a 12 month high of $205.31. The company has a quick ratio of 1.17, a current ratio of 2.67 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $187.83 and a 200 day simple moving average of $161.29.

ATI (NYSE:ATI) last posted its earnings results on Thursday, April 30th. The basic materials company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.12. ATI had a return on equity of 26.44% and a net margin of 9.26%.The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts expect that ATI Inc. will post 4.49 EPS for the current year.

Insider Activity

In other news, CEO Kimberly A. Fields sold 31,757 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $190.99, for a total transaction of $6,065,269.43. Following the sale, the chief executive officer owned 125,564 shares of the company’s stock, valued at $23,981,468.36. This trade represents a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 192,199 shares of company stock valued at $34,601,100 in the last ninety days. 0.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. KeyCorp increased their target price on ATI from $175.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. boosted their target price on ATI from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Wall Street Zen cut ATI from a “buy” rating to a “hold” rating in a research note on Tuesday. Susquehanna increased their price target on shares of ATI from $185.00 to $215.00 and gave the company a “positive” rating in a research report on Thursday, July 9th. Finally, BTIG Research lifted their price objective on shares of ATI from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $176.78.

ATI Company Profile

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.