BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 184,609 Shares of ATI Inc. (NYSE:ATI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in ATI Inc. (NYSE:ATI - Free Report) by 40.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund 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 approximately 0.19% of ATI worth $14,716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors boosted its stake in ATI by 100.5% during the 4th quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company's stock valued at $378,432,000 after purchasing an additional 3,446,919 shares in the last quarter. Dendur Capital LP raised its position in shares of ATI by 601.7% during the fourth quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company's stock worth $196,328,000 after purchasing an additional 3,058,628 shares during the period. Vanguard Group Inc. boosted its position in shares of ATI by 15.2% in the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company's stock valued at $844,061,000 after purchasing an additional 2,020,313 shares during the period. Norges Bank purchased a new position in shares of ATI during the fourth quarter valued at $85,047,000. Finally, Capital International Investors boosted its holdings in shares of ATI by 5.4% during the fourth quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company's stock worth $875,190,000 after purchasing an additional 817,182 shares during the period.

ATI Trading Up 4.5%

Shares of ATI stock traded up $3.38 during mid-day trading on Tuesday, reaching $79.02. 499,740 shares of the stock traded hands, compared to its average volume of 1,748,987. The stock's fifty day simple moving average is $57.65 and its two-hundred day simple moving average is $57.46. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $79.05. 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 $11.15 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 0.85 and a beta of 1.01.

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, topping analysts' consensus estimates of $0.58 by $0.14. The company 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%. ATI's revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 earnings per share. On average, research analysts anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insider Buying and Selling at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction that occurred 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 transaction, the chairman now directly owns 506,538 shares of the company's stock, valued at $34,535,760.84. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ATI shares. BTIG Research set a $90.00 target price on shares of ATI and gave the stock a "buy" rating in a research report on Monday, May 5th. Barclays increased their price target on shares of ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Susquehanna boosted their price objective on ATI from $70.00 to $73.00 and gave the company a "positive" rating in a research report on Wednesday, February 5th. Wall Street Zen upgraded shares of ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Citigroup upgraded ATI to a "positive" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, ATI presently has an average rating of "Moderate Buy" and a consensus price target of $76.14.

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.