Cwm LLC Has $73,000 Stock Holdings in ATI Inc. (NYSE:ATI)

Key Points

• Cwm LLC significantly reduced its stock position in ATI Inc. by 95.3%, holding only 1,407 shares after selling 28,455 shares in the recent quarter.
• Several institutional investors have increased their stakes in ATI, with Capital International Investors acquiring an additional 817,182 shares, raising their total to about $875 million.
• ATI posted an earnings per share (EPS) of $0.74, exceeding analyst expectations, and reported a 4.1% year-over-year increase in revenue for the quarter, totaling $1.14 billion.

CWM LLC cut its holdings in ATI Inc. (NYSE:ATI - Free Report) by 95.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,407 shares of the basic materials company's stock after selling 28,455 shares during the period. CWM LLC's holdings in ATI were worth $73,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its position in shares of ATI by 104.1% during the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock valued at $31,000 after buying an additional 304 shares during the last quarter. Bessemer Group Inc. raised its position in shares of ATI by 139.9% during the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after buying an additional 386 shares during the last quarter. Olde Wealth Management LLC acquired a new position in shares of ATI during the first quarter valued at about $36,000. Fifth Third Bancorp increased its stake in ATI by 115.7% in the first quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock valued at $58,000 after acquiring an additional 603 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in ATI by 418.1% in the first quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company's stock valued at $69,000 after acquiring an additional 1,062 shares during the period.

Insider Transactions at ATI

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $83.93, for a total transaction of $4,196,500.00. Following the completion of the sale, the chairman owned 356,538 shares of the company's stock, valued at approximately $29,924,234.34. This represents a 12.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 145,359 shares of company stock valued at $11,694,486. Insiders own 1.10% of the company's stock.

ATI Trading Up 0.1%

Shares of NYSE ATI traded up $0.05 during midday trading on Wednesday, reaching $74.52. 1,234,907 shares of the stock were exchanged, compared to its average volume of 2,084,590. ATI Inc. has a 12 month low of $39.23 and a 12 month high of $96.20. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.52 and a quick ratio of 1.20. The business has a 50-day simple moving average of $85.87 and a two-hundred day simple moving average of $67.64. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 1.00 and a beta of 1.20.

ATI (NYSE:ATI - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. ATI had a return on equity of 21.34% and a net margin of 9.26%. ATI's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. As a group, equities research analysts expect that ATI Inc. will post 2.89 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BTIG Research set a $120.00 target price on shares of ATI and gave the company a "buy" rating in a research note on Monday. Susquehanna decreased their price objective on shares of ATI from $105.00 to $100.00 and set a "positive" rating on the stock in a research note on Friday, August 1st. KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Citigroup raised shares of ATI to a "positive" rating in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of ATI from $75.00 to $92.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $93.29.

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.