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NBW Capital LLC Decreases Stock Position in ATI Inc. (NYSE:ATI)

ATI logo with Basic Materials background

Key Points

  • NBW Capital LLC reduced its stake in ATI Inc. by 22.1% during the first quarter, owning approximately 0.05% of the company after selling 21,131 shares.
  • Several institutional investors increased their positions in ATI during the fourth quarter, with Capital World Investors raising its holdings by 100.5% and acquiring over 3.4 million shares.
  • In recent analyst ratings, JPMorgan Chase & Co. increased its price target on ATI to $92.00 and reiterated an "overweight" rating.
  • Looking to Export and Analyze ATI Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

NBW Capital LLC cut its holdings in ATI Inc. (NYSE:ATI - Free Report) by 22.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 74,383 shares of the basic materials company's stock after selling 21,131 shares during the period. NBW Capital LLC owned 0.05% of ATI worth $3,870,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors lifted its holdings in ATI by 100.5% in the fourth quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company's stock worth $378,432,000 after acquiring an additional 3,446,919 shares during the last quarter. Dendur Capital LP grew its position in ATI by 601.7% in the fourth quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company's stock worth $196,328,000 after buying an additional 3,058,628 shares during the last quarter. Capital International Investors grew 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 valued at $875,190,000 after buying an additional 817,182 shares in the last quarter. Anomaly Capital Management LP purchased a new stake in shares of ATI in the fourth quarter worth approximately $34,999,000. Finally, Woodline Partners LP grew its holdings in shares of ATI by 132.0% during the 4th quarter. Woodline Partners LP now owns 991,741 shares of the basic materials company's stock valued at $54,585,000 after acquiring an additional 564,308 shares in the last quarter.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total value of $3,733,000.00. Following the transaction, the chairman owned 306,538 shares in the company, valued at approximately $22,886,127.08. This trade represents a 14.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Morehouse sold 7,900 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.81, for a total transaction of $598,899.00. Following the completion of the transaction, the director owned 44,777 shares in the company, valued at $3,394,544.37. This represents a 15.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 203,259 shares of company stock worth $16,026,385 over the last three months. Insiders own 1.10% of the company's stock.

ATI Price Performance

ATI traded down $0.70 on Friday, reaching $73.04. The company had a trading volume of 1,725,627 shares, compared to its average volume of 2,237,898. The business has a 50 day simple moving average of $85.51 and a 200 day simple moving average of $67.97. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 1.00 and a beta of 1.20. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.20 and a current ratio of 2.52. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $96.20.

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 the consensus estimate of $0.72 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. ATI had a net margin of 9.26% and a return on equity of 21.34%. The business's revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. As a group, sell-side analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on ATI shares. BTIG Research set a $120.00 price objective on shares of ATI and gave the company a "buy" rating in a research report on Monday, August 4th. Citigroup upgraded shares of ATI to a "positive" rating in a report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of ATI and gave the company a "hold" rating in a research report on Tuesday, July 8th. Susquehanna reduced their target price on shares of ATI from $105.00 to $100.00 and set a "positive" rating for the company in a report on Friday, August 1st. Finally, KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $93.29.

View Our Latest Report on ATI

About ATI

(Free Report)

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.

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Institutional Ownership by Quarter for ATI (NYSE:ATI)

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