Bull Harbor Capital LLC Buys Shares of 2,686 ATI Inc. $ATI

Bull Harbor Capital LLC bought a new position in ATI Inc. (NYSE:ATI) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,686 shares of the basic materials company’s stock, valued at approximately $391,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen lowered ATI from a “buy” rating to a “hold” rating in a research report on Tuesday. TD Cowen lifted their price objective on shares of ATI from $170.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 13th. BTIG Research upped their price objective on shares of ATI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, May 1st. KeyCorp upped their price objective on shares of ATI from $175.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings upgraded shares of ATI from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. According to MarketBeat, ATI presently has an average rating of “Buy” and an average price target of $176.78.

Insider Activity at ATI

In other news, CEO Kimberly A. Fields sold 31,757 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $190.99, for a total value of $6,065,269.43. Following the sale, the chief executive officer owned 125,564 shares of the company’s stock, valued at approximately $23,981,468.36. The trade was a 20.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 192,199 shares of company stock valued at $34,601,100. 0.98% of the stock is currently owned by insiders.

ATI Price Performance

Shares of NYSE:ATI opened at $187.76 on Friday. ATI Inc. has a 12 month low of $70.42 and a 12 month high of $205.31. The stock has a market cap of $25.62 billion, a price-to-earnings ratio of 62.17, a PEG ratio of 1.45 and a beta of 0.96. The stock’s 50 day moving average price is $188.34 and its 200 day moving average price is $161.47. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.67 and a quick ratio of 1.17.

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

About ATI

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.