Hennessy Advisors Inc. Purchases 34,000 Shares of ATI Inc. (NYSE:ATI)

Hennessy Advisors Inc. grew its position in shares of ATI Inc. (NYSE:ATI) by 44.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,200 shares of the basic materials company’s stock after purchasing an additional 34,000 shares during the period. Hennessy Advisors Inc. owned about 0.09% of ATI worth $5,690,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake 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 acquiring an additional 441 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of ATI in the 4th quarter valued at about $58,000. Edmond DE Rothschild Holding S.A. lifted its stake in shares of ATI by 211.5% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 1,800 shares during the last quarter. Quest Partners LLC bought a new stake in shares of ATI in the 4th quarter valued at about $174,000. Finally, TFO Wealth Partners LLC lifted its stake in shares of ATI by 103,225.0% in the 4th quarter. TFO Wealth Partners LLC now owns 4,133 shares of the basic materials company’s stock valued at $182,000 after acquiring an additional 4,129 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ATI shares. Deutsche Bank Aktiengesellschaft started coverage on ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 target price for the company. BTIG Research started coverage on ATI in a research report on Wednesday. They set a “buy” rating and a $70.00 price target for the company. KeyCorp upped their price target on ATI from $58.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Barclays upped their price target on ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Finally, Northcoast Research downgraded ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, ATI currently has an average rating of “Moderate Buy” and an average price target of $63.83.

ATI Stock Up 0.4 %

Shares of ATI stock traded up $0.25 during midday trading on Thursday, hitting $56.52. The company had a trading volume of 1,350,203 shares, compared to its average volume of 1,415,094. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.37 and a current ratio of 2.81. The stock has a market capitalization of $7.03 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.40 and a beta of 1.12. The company has a 50 day moving average of $57.47 and a 200 day moving average of $49.96. ATI Inc. has a 52-week low of $35.03 and a 52-week high of $62.44.

ATI (NYSE:ATI) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. ATI had a return on equity of 23.72% and a net margin of 8.70%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business posted $0.49 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, equities analysts predict that ATI Inc. will post 2.45 earnings per share for the current fiscal year.

ATI Company 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.