Jefferies Financial Group Inc. Sells 15,805 Shares of ATI Inc. (NYSE:ATI)

Key Points

• Jefferies Financial Group Inc. reduced its position in ATI Inc. by 17.8%, now holding 72,795 shares valued at approximately $3.79 million.
• Chairman Robert S. Wetherbee sold 50,000 shares of ATI at $68.18 each, which amounted to a total transaction value of approximately $3.41 million.
• Despite mixed analyst reports, ATI has received a consensus rating of "Moderate Buy" with a target price of $89.00, indicating positive financial sentiment around the stock.

Jefferies Financial Group Inc. lowered its stake in ATI Inc. (NYSE:ATI - Free Report) by 17.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,795 shares of the basic materials company's stock after selling 15,805 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.05% of ATI worth $3,788,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ATI. Pictet Asset Management Holding SA grew its position in shares of ATI by 11.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 19,240 shares of the basic materials company's stock valued at $1,059,000 after purchasing an additional 1,941 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ATI by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 2,150,204 shares of the basic materials company's stock valued at $118,389,000 after purchasing an additional 197,270 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of ATI by 4.5% in the 4th quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company's stock valued at $258,495,000 after purchasing an additional 203,742 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of ATI by 4.4% during the 4th quarter. Legal & General Group Plc now owns 401,083 shares of the basic materials company's stock valued at $22,076,000 after acquiring an additional 16,830 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of ATI by 102.1% during the 4th quarter. Renaissance Technologies LLC now owns 178,192 shares of the basic materials company's stock valued at $9,808,000 after acquiring an additional 90,000 shares in the last quarter.

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $83.93, for a total value of $4,196,500.00. Following the completion of the transaction, the chairman owned 356,538 shares in the company, valued at $29,924,234.34. This trade represents a 12.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 145,359 shares of company stock valued at $11,694,486. 1.10% of the stock is owned by company insiders.

ATI Stock Performance

ATI traded down $0.71 on Wednesday, hitting $73.76. The company's stock had a trading volume of 300,635 shares, compared to its average volume of 2,077,859. The company's 50 day simple moving average is $85.87 and its 200-day simple moving average is $67.64. The firm has a market cap of $10.17 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. ATI Inc. has a 12 month low of $39.23 and a 12 month high of $96.20. The company has a quick ratio of 1.20, a current ratio of 2.52 and a debt-to-equity ratio of 0.92.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Benchmark reiterated a "buy" rating and issued a $81.00 price target on shares of ATI in a research report on Monday, April 21st. Susquehanna dropped their price target on ATI from $105.00 to $100.00 and set a "positive" rating on the stock in a research note on Friday, August 1st. Barclays upped their price target on ATI from $75.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday. JPMorgan Chase & Co. increased their price objective on ATI from $75.00 to $92.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, BTIG Research set a $120.00 price objective on ATI and gave the stock a "buy" rating in a research note on Monday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.29.

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.