Neuberger Berman Group LLC Purchases 296,634 Shares of ATI Inc. $ATI

Key Points

• Neuberger Berman Group LLC increased its holdings in ATI Inc. by 35.5% in Q1, now owning over 1.13 million shares valued at approximately $58.9 million.
• Director David J. Morehouse and Chairman Robert S. Wetherbee sold shares of the company, reducing their respective holdings by 15% and 14.02% in early August.
• ATI Inc. reported earnings of $0.74 per share for the last quarter, exceeding analysts' expectations, and projected an average target price of $93.29 among analysts, indicating a 'Moderate Buy' consensus.

Neuberger Berman Group LLC lifted its stake in ATI Inc. (NYSE:ATI - Free Report) by 35.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,132,296 shares of the basic materials company's stock after purchasing an additional 296,634 shares during the period. Neuberger Berman Group LLC owned 0.80% of ATI worth $58,913,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ATI. Capital World Investors boosted its position in shares of ATI by 100.5% in the 4th quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company's stock worth $378,432,000 after purchasing an additional 3,446,919 shares during the last quarter. Dendur Capital LP raised its stake in ATI by 601.7% during the 4th 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 period. Capital International Investors raised its stake in ATI by 5.4% during the 4th quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company's stock worth $875,190,000 after buying an additional 817,182 shares during the period. Anomaly Capital Management LP acquired a new stake in ATI during the 4th quarter worth $34,999,000. Finally, Woodline Partners LP raised its stake in ATI by 132.0% during the 4th quarter. Woodline Partners LP now owns 991,741 shares of the basic materials company's stock worth $54,585,000 after buying an additional 564,308 shares during the period.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $74.66, for a total value of $3,733,000.00. Following the completion of the transaction, the chairman owned 306,538 shares in the company, valued at $22,886,127.08. This trade represents a 14.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David J. Morehouse sold 7,900 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $75.81, for a total value of $598,899.00. Following the completion of the transaction, the director owned 44,777 shares of the company's stock, valued at $3,394,544.37. The trade was a 15.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 203,259 shares of company stock valued at $16,026,385 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

ATI Stock Up 0.0%

Shares of NYSE ATI traded up $0.01 during mid-day trading on Monday, hitting $72.47. The company had a trading volume of 1,840,373 shares, compared to its average volume of 2,083,438. The company has a market capitalization of $9.99 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20. The firm has a 50-day simple moving average of $84.67 and a two-hundred day simple moving average of $68.60. The company has a current ratio of 2.52, a quick ratio of 1.20 and a debt-to-equity ratio of 0.92. ATI Inc. has a one year low of $39.23 and a one year high of $96.20.

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

Analysts Set New Price Targets

ATI has been the topic of several research analyst reports. Benchmark reaffirmed a "buy" rating and set a $81.00 price objective on shares of ATI in a research note on Monday, April 21st. Barclays raised their price objective on ATI from $75.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Citigroup raised ATI to a "positive" rating in a research note on Tuesday, May 20th. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Finally, Susquehanna dropped their price objective on ATI from $105.00 to $100.00 and set a "positive" rating on the stock in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.