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Sequoia Financial Advisors LLC cut its stake in shares of ATI Inc. (NYSE:ATI – Free Report) by 16.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,178 shares of the basic materials company’s stock after selling 817 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in ATI were worth $217,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ATI. Capital World Investors lifted its holdings in shares of ATI by 100.5% during the fourth quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company’s stock valued at $378,432,000 after acquiring an additional 3,446,919 shares during the period. Dendur Capital LP lifted its holdings in shares of ATI by 601.7% during the fourth quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company’s stock valued at $196,328,000 after acquiring an additional 3,058,628 shares during the period. Vanguard Group Inc. raised its holdings in shares of ATI by 15.2% in the fourth quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock valued at $844,061,000 after buying an additional 2,020,313 shares during the last quarter. Norges Bank bought a new position in shares of ATI in the fourth quarter valued at about $85,047,000. Finally, Capital International Investors raised its holdings in shares of ATI by 5.4% in the fourth quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company’s stock valued at $875,190,000 after buying an additional 817,182 shares during the last quarter.
Insider Buying and Selling
In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $83.93, for a total value of $4,196,500.00. Following the completion of the sale, the chairman owned 356,538 shares of the company’s stock, valued at approximately $29,924,234.34. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 195,359 shares of company stock valued at $15,103,486 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.
ATI Price Performance
ATI stock opened at $86.85 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.30 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $12.25 billion, a P/E ratio of 31.47, a PEG ratio of 1.22 and a beta of 1.13. The business has a 50-day moving average of $77.76 and a 200-day moving average of $62.53. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $87.75.
ATI (NYSE:ATI – Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. ATI had a net margin of 8.93% and a return on equity of 21.37%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.
Analyst Ratings Changes
A number of research firms recently issued reports on ATI. Citigroup raised ATI to a “positive” rating in a report on Tuesday, May 20th. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, May 20th. Benchmark reiterated a “buy” rating and issued a $81.00 price objective on shares of ATI in a research report on Monday, April 21st. Finally, BTIG Research set a $105.00 price objective on ATI and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.29.
Check Out Our Latest Stock Report on ATI
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.
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