Wellington Management Group LLP Reduces Position in ATI Inc. (NYSE:ATI)

Wellington Management Group LLP lessened its holdings in ATI Inc. (NYSE:ATI - Free Report) by 19.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 451,225 shares of the basic materials company's stock after selling 109,486 shares during the period. Wellington Management Group LLP owned about 0.32% of ATI worth $24,835,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Mainstream Capital Management LLC bought a new position in shares of ATI in the fourth quarter worth about $94,000. EverSource Wealth Advisors LLC increased its holdings in ATI by 20.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company's stock worth $95,000 after acquiring an additional 288 shares in the last quarter. Park Square Financial Group LLC bought a new stake in ATI during the 4th quarter worth approximately $108,000. Smartleaf Asset Management LLC raised its stake in ATI by 236.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company's stock worth $132,000 after acquiring an additional 1,690 shares during the period. Finally, Blue Trust Inc. lifted its holdings in ATI by 137.7% during the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock valued at $144,000 after purchasing an additional 1,516 shares in the last quarter.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 45,359 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $75.31, for a total transaction of $3,415,986.29. Following the completion of the sale, the chairman now owns 461,179 shares of the company's stock, valued at $34,731,390.49. This represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

ATI has been the subject of a number of recent analyst reports. Citigroup raised ATI to a "positive" rating in a research note on Tuesday, May 20th. Susquehanna raised their price target on ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a research report on Wednesday, February 5th. BTIG Research set a $105.00 price objective on shares of ATI and gave the company a "buy" rating in a research report on Wednesday, May 28th. KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Tuesday, May 20th. Finally, Wall Street Zen upgraded shares of ATI from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $78.29.

ATI Trading Up 0.8%

ATI stock traded up $0.69 during mid-day trading on Wednesday, reaching $82.61. The company had a trading volume of 659,112 shares, compared to its average volume of 1,765,925. The company has a market capitalization of $11.65 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 0.85 and a beta of 1.13. The firm has a 50 day moving average of $60.89 and a 200 day moving average of $58.40. ATI Inc. has a 12 month low of $39.23 and a 12 month high of $82.97. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. ATI's revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 earnings per share. On average, equities analysts predict that ATI Inc. will post 2.89 earnings per share for the current fiscal 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.