Nuveen Asset Management LLC Trims Stock Holdings in ATI Inc. (NYSE:ATI)

Nuveen Asset Management LLC reduced its position in ATI Inc. (NYSE:ATI - Free Report) by 42.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 398,215 shares of the basic materials company's stock after selling 293,282 shares during the period. Nuveen Asset Management LLC owned 0.28% of ATI worth $21,918,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ATI. SG Americas Securities LLC purchased a new stake in ATI during the fourth quarter valued at approximately $249,000. Inspire Investing LLC grew its stake in ATI by 17.3% in the fourth quarter. Inspire Investing LLC now owns 7,265 shares of the basic materials company's stock worth $400,000 after purchasing an additional 1,070 shares in the last quarter. Blue Trust Inc. grew its stake in ATI by 137.7% in the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock worth $144,000 after purchasing an additional 1,516 shares in the last quarter. KBC Group NV grew its stake in ATI by 50.5% in the fourth quarter. KBC Group NV now owns 5,059 shares of the basic materials company's stock worth $278,000 after purchasing an additional 1,697 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in ATI by 2.1% in the fourth quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company's stock worth $643,000 after purchasing an additional 240 shares in the last quarter.

Wall Street Analysts Forecast Growth

ATI has been the topic of several research analyst reports. Citigroup raised ATI to a "positive" rating in a research note on Tuesday, May 20th. Wall Street Zen raised ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. Benchmark reaffirmed a "buy" rating and set a $81.00 target price on shares of ATI in a research report on Monday, April 21st. Finally, BTIG Research set a $105.00 target price on ATI and gave the company a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, ATI has a consensus rating of "Moderate Buy" and an average target price of $78.29.

ATI Stock Down 0.5%

Shares of ATI traded down $0.36 during midday trading on Thursday, hitting $79.57. 417,084 shares of the company's stock traded hands, compared to its average volume of 2,092,271. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $80.68. The firm's fifty day moving average is $58.75 and its 200-day moving average is $57.77. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 31.20, 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 data on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current year.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 45,359 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $75.31, for a total value of $3,415,986.29. Following the completion of the transaction, the chairman now owns 461,179 shares in the company, valued at $34,731,390.49. This trade represents a 8.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.10% of the company's stock.

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.