Segall Bryant & Hamill LLC Has $40.35 Million Holdings in ATI Inc. $ATI

Key Points

• Segall Bryant & Hamill cut its ATI stake by 13.8% in the first quarter, selling 44,322 shares and retaining 277,371 shares valued at approximately $40.35 million.
• Analyst sentiment remains positive, with ATI holding a consensus “Buy” rating and an average price target of $176.78; several firms recently raised their targets, including TD Cowen to $210.
• ATI shares recently traded at $187.76, near their 12-month high of $205.31. The company beat first-quarter earnings estimates with EPS of $1.00 versus the $0.88 consensus, while CEO Kimberly A. Fields sold shares worth about $6.1 million.

Segall Bryant & Hamill LLC decreased its holdings in ATI Inc. (NYSE:ATI - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 277,371 shares of the basic materials company's stock after selling 44,322 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.20% of ATI worth $40,346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Royal Bank of Canada raised its position in ATI by 8.1% during the 1st quarter. Royal Bank of Canada now owns 60,369 shares of the basic materials company's stock worth $3,140,000 after purchasing an additional 4,542 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in ATI by 49.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company's stock worth $32,984,000 after buying an additional 209,480 shares during the period. Cetera Investment Advisers bought a new stake in shares of ATI in the 2nd quarter valued at about $324,000. M&T Bank Corp bought a new stake in shares of ATI in the 2nd quarter valued at about $317,000. Finally, First Trust Advisors LP grew its position in shares of ATI by 4.9% in the 2nd quarter. First Trust Advisors LP now owns 197,214 shares of the basic materials company's stock valued at $17,028,000 after buying an additional 9,234 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded ATI from a "buy" rating to a "hold" rating in a research report on Tuesday. BTIG Research lifted their price objective on ATI from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. TD Cowen upped their target price on ATI from $170.00 to $210.00 and gave the company a "buy" rating in a report on Monday, July 13th. Zacks Research raised shares of ATI from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of ATI from $150.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $176.78.

Insider Activity at ATI

In related news, CEO Kimberly A. Fields sold 31,757 shares of the company's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $190.99, for a total transaction of $6,065,269.43. Following the sale, the chief executive officer owned 125,564 shares in the company, valued at $23,981,468.36. This represents a 20.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 192,199 shares of company stock worth $34,601,100. 0.98% of the stock is owned by corporate insiders.

ATI Stock Performance

Shares of ATI opened at $187.76 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.17 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $25.62 billion, a P/E ratio of 62.17, a price-to-earnings-growth ratio of 1.45 and a beta of 0.96. The firm's fifty day simple moving average is $188.34 and its two-hundred day simple moving average is $161.47. ATI Inc. has a 12 month low of $70.42 and a 12 month high of $205.31.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.12. ATI had a return on equity of 26.44% and a net margin of 9.26%.The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $0.72 EPS. The business's revenue was up .6% compared to the same quarter last year. As a group, analysts predict that ATI Inc. will post 4.49 EPS for the current year.

About ATI

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.

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