American Century Companies Inc. Has $73.99 Million Holdings in ATI Inc. $ATI

Key Points

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American Century Companies Inc. lifted its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,422,116 shares of the basic materials company's stock after purchasing an additional 60,651 shares during the period. American Century Companies Inc. owned 1.01% of ATI worth $73,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its holdings in ATI by 104.1% in the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 304 shares during the period. Bessemer Group Inc. boosted 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 valued at $34,000 after buying an additional 386 shares during the period. Olde Wealth Management LLC acquired a new stake in ATI during the first quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in ATI during the 1st quarter worth $47,000. Finally, Fifth Third Bancorp increased its position in shares of ATI by 115.7% in the first quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock worth $58,000 after purchasing an additional 603 shares during the period.

Insider Activity

In other news, Director David J. Morehouse sold 7,900 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $75.81, for a total transaction of $598,899.00. Following the sale, the director directly owned 44,777 shares in the company, valued at $3,394,544.37. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 in the company, valued at $22,886,127.08. This trade represents a 14.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 203,259 shares of company stock valued at $16,026,385. 1.10% of the stock is currently owned by insiders.

ATI Trading Down 2.1%

Shares of ATI stock opened at $72.48 on Monday. The company has a market capitalization of $9.99 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20. The stock has a fifty day simple moving average of $84.67 and a 200 day simple moving average of $68.60. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $96.20. The company has a current ratio of 2.52, a quick ratio of 1.20 and a debt-to-equity ratio of 0.92.

ATI (NYSE:ATI - Get Free Report) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations 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 last year, the firm earned $0.60 EPS. On average, sell-side analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Susquehanna cut their price target on shares of ATI from $105.00 to $100.00 and set a "positive" rating for the company in a report on Friday, August 1st. BTIG Research set a $120.00 target price on ATI and gave the stock a "buy" rating in a research note on Monday, August 4th. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Barclays boosted their price target on ATI from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Benchmark reiterated a "buy" rating and issued a $81.00 target price on shares of ATI in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, ATI currently has a consensus rating of "Moderate Buy" and an average price target of $93.29.

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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