ATI Inc. (NYSE:ATI) Stake Lessened by Vanguard Group Inc.

Vanguard Group Inc. lessened its stake in ATI Inc. (NYSE:ATI) by 9.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,896,542 shares of the basic materials company’s stock after selling 1,438,867 shares during the period. Vanguard Group Inc. owned about 0.10% of ATI worth $723,037,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas bought a new stake in shares of ATI in the first quarter worth $1,243,000. Bank of New York Mellon Corp increased its stake in shares of ATI by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 902,200 shares of the basic materials company’s stock worth $46,941,000 after buying an additional 11,048 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of ATI by 39.2% in the first quarter. GAMMA Investing LLC now owns 3,478 shares of the basic materials company’s stock worth $181,000 after buying an additional 979 shares during the last quarter. KBC Group NV increased its stake in shares of ATI by 14.2% in the first quarter. KBC Group NV now owns 5,779 shares of the basic materials company’s stock worth $301,000 after buying an additional 720 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of ATI by 139.9% in the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company’s stock worth $34,000 after buying an additional 386 shares during the last quarter.

Insider Activity

In other news, Director David J. Morehouse sold 7,900 shares of ATI stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $75.81, for a total value of $598,899.00. Following the transaction, the director owned 44,777 shares of the company’s stock, valued at $3,394,544.37. The trade was a 15.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total transaction of $3,733,000.00. Following the sale, the chairman directly owned 306,538 shares of the company’s stock, valued at approximately $22,886,127.08. This represents a 14.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 203,259 shares of company stock valued at $16,026,385 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Susquehanna lowered their target price on shares of ATI from $105.00 to $100.00 and set a “positive” rating for the company in a research note on Friday, August 1st. Citigroup upgraded shares of ATI to a “positive” rating in a research note on Tuesday, May 20th. BTIG Research set a $120.00 target price on shares of ATI and gave the company a “buy” rating in a research note on Monday, August 4th. JPMorgan Chase & Co. boosted their target price on shares of ATI from $75.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Benchmark reiterated a “buy” rating and set a $81.00 target price on shares of ATI in a research note on Monday, April 21st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.29.

ATI Stock Up 3.6%

ATI stock opened at $75.55 on Wednesday. The firm has a market capitalization of $10.41 billion, a P/E ratio of 26.23, a P/E/G ratio of 0.99 and a beta of 1.20. The company has a 50-day simple moving average of $85.23 and a 200-day simple moving average of $68.19. ATI Inc. has a one year low of $39.23 and a one year high of $96.20. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.20 and a current ratio of 2.52.

ATI (NYSE:ATI) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. ATI had a net margin of 9.26% and a return on equity of 21.34%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. As a group, equities analysts expect that ATI Inc. will post 2.89 earnings per share for the current 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.