Squarepoint Ops LLC Sells 10,697 Shares of ATI Inc. (NYSE:ATI)

Squarepoint Ops LLC lowered its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 31.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,520 shares of the basic materials company's stock after selling 10,697 shares during the quarter. Squarepoint Ops LLC's holdings in ATI were worth $1,295,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased its holdings in ATI by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company's stock valued at $215,000 after buying an additional 192 shares during the last quarter. Keystone Financial Group increased its position in ATI by 5.3% during the fourth quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company's stock valued at $217,000 after acquiring an additional 200 shares during the last quarter. Pier 88 Investment Partners LLC increased its position in shares of ATI by 3.0% during the fourth quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company's stock worth $419,000 after acquiring an additional 220 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of ATI by 2.1% in the 4th quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company's stock worth $643,000 after buying an additional 240 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in ATI by 20.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company's stock worth $95,000 after buying an additional 288 shares during the period.

Insiders Place Their Bets

In related news, Chairman Robert S. Wetherbee sold 45,359 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $75.31, for a total transaction of $3,415,986.29. Following the sale, the chairman now owns 461,179 shares in the company, valued at $34,731,390.49. This represents a 8.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ATI. Citigroup raised ATI to a "positive" rating in a research report on Tuesday, May 20th. Susquehanna lifted their target price on shares of ATI from $70.00 to $73.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. Benchmark reaffirmed a "buy" rating and set a $81.00 price objective on shares of ATI in a research report on Monday, April 21st. Barclays upped their price target on ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Finally, BTIG Research set a $105.00 price objective on ATI and gave the company a "buy" rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $78.29.

ATI Price Performance

ATI stock traded up $1.22 during midday trading on Wednesday, reaching $83.14. 2,340,814 shares of the company's stock traded hands, compared to its average volume of 1,775,578. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $83.43. The company has a 50-day simple moving average of $61.53 and a two-hundred day simple moving average of $58.57. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 0.85 and a beta of 1.13.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business's revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. On average, analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current year.

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.