BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Position in ATI Inc. (NYSE:ATI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 40.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 267,373 shares of the basic materials company's stock after selling 184,609 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.19% of ATI worth $14,716,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ATI. Charles Schwab Investment Management Inc. boosted its position in ATI by 14.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company's stock worth $86,031,000 after purchasing an additional 191,823 shares during the period. Blue Trust Inc. boosted its position in shares of 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 buying an additional 1,516 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of ATI in the fourth quarter valued at about $618,000. Bleakley Financial Group LLC raised its holdings in shares of ATI by 33.6% during the 4th quarter. Bleakley Financial Group LLC now owns 4,780 shares of the basic materials company's stock valued at $263,000 after buying an additional 1,203 shares during the period. Finally, D.A. Davidson & CO. lifted its position in ATI by 5.7% during the 4th quarter. D.A. Davidson & CO. now owns 9,767 shares of the basic materials company's stock worth $538,000 after acquiring an additional 530 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have issued reports on ATI. Citigroup raised shares of ATI to a "positive" rating in a research report on Tuesday. BTIG Research set a $90.00 price target on shares of ATI and gave the company a "buy" rating in a report on Monday, May 5th. StockNews.com raised shares of ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Tuesday. Finally, Barclays raised their target price on ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.14.

Insider Transactions at ATI

In related 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 transaction of $3,409,000.00. Following the transaction, the chairman now directly owns 506,538 shares in the company, valued at $34,535,760.84. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

ATI Price Performance

Shares of ATI stock opened at $75.23 on Thursday. The firm has a fifty day moving average of $56.20 and a two-hundred day moving average of $57.05. The firm has a market cap of $10.61 billion, a P/E ratio of 29.50, a P/E/G ratio of 0.85 and a beta of 1.01. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $76.74. 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 posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The business 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%. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $0.48 earnings per share. As a group, research analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current fiscal 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.

Want to see what other hedge funds are holding ATI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ATI Inc. (NYSE:ATI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.