Bank of America Corp DE Decreases Stock Position in ATI Inc. (NYSE:ATI)

Bank of America Corp DE lowered its position in ATI Inc. (NYSE:ATI - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 312,354 shares of the basic materials company's stock after selling 115,232 shares during the period. Bank of America Corp DE owned 0.22% of ATI worth $17,192,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ATI. SG Americas Securities LLC bought a new position in ATI in the fourth quarter worth approximately $249,000. Inspire Investing LLC boosted its holdings in ATI by 17.3% in the fourth quarter. Inspire Investing LLC now owns 7,265 shares of the basic materials company's stock worth $400,000 after acquiring an additional 1,070 shares in the last quarter. Blue Trust Inc. boosted its holdings in ATI by 137.7% in the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock worth $144,000 after acquiring an additional 1,516 shares in the last quarter. KBC Group NV boosted its holdings in ATI by 50.5% in the fourth quarter. KBC Group NV now owns 5,059 shares of the basic materials company's stock worth $278,000 after acquiring an additional 1,697 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in ATI by 2.1% in the fourth quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company's stock worth $643,000 after acquiring an additional 240 shares in the last quarter.

ATI Stock Performance

Shares of ATI traded up $0.47 on Friday, reaching $75.62. 1,775,821 shares of the company's stock traded hands, compared to its average volume of 1,753,814. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88. The stock has a market cap of $10.67 billion, a PE ratio of 29.66, a PEG ratio of 0.85 and a beta of 1.01. The stock's 50 day simple moving average is $57.18 and its two-hundred day simple moving average is $57.34. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $76.74.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $0.48 earnings per share. On average, analysts forecast that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total value of $3,409,000.00. Following the completion of the sale, the chairman now directly owns 506,538 shares of the company's stock, valued at $34,535,760.84. This trade represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup upgraded ATI to a "positive" rating in a report on Tuesday. BTIG Research set a $90.00 price target on ATI and gave the stock a "buy" rating in a report on Monday, May 5th. Wall Street Zen upgraded ATI from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Susquehanna raised their target price on ATI from $70.00 to $73.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. Finally, Barclays raised their target price on ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $76.14.

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.