Sei Investments Co. lessened its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 24.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,045 shares of the basic materials company's stock after selling 29,540 shares during the period. Sei Investments Co. owned about 0.07% of ATI worth $13,098,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its position in ATI by 456.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 129,617 shares of the basic materials company's stock valued at $14,875,000 after purchasing an additional 106,343 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in ATI during the first quarter worth $4,599,000. Precision Wealth Strategies LLC bought a new position in shares of ATI in the 1st quarter valued at approximately $1,009,000. Illinois Municipal Retirement Fund acquired a new stake in shares of ATI in the first quarter worth $1,106,000. Finally, Erste Asset Management GmbH lifted its position in ATI by 259.1% during the 4th quarter. Erste Asset Management GmbH now owns 25,780 shares of the basic materials company's stock worth $3,007,000 after acquiring an additional 18,600 shares during the last quarter.
Wall Street Analyst Weigh In
ATI has been the topic of several research analyst reports. Weiss Ratings upgraded shares of ATI from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $194.00 price target on shares of ATI in a research note on Friday, May 1st. Zacks Research upgraded ATI from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 25th. TD Cowen increased their target price on ATI from $170.00 to $210.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Finally, Wall Street Zen cut shares of ATI from a "buy" rating to a "hold" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $176.78.
Read Our Latest Stock Report on ATI
Insiders Place Their Bets
In other ATI news, CEO Kimberly A. Fields sold 59,749 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $179.07, for a total value of $10,699,253.43. Following the completion of the transaction, the chief executive officer directly owned 218,014 shares of the company's stock, valued at approximately $39,039,766.98. The trade was a 21.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 192,199 shares of company stock worth $34,601,100 in the last 90 days. Insiders own 0.98% of the company's stock.
ATI Price Performance
ATI opened at $181.87 on Friday. The company has a fifty day moving average price of $187.83 and a two-hundred day moving average price of $161.29. The firm has a market capitalization of $24.82 billion, a PE ratio of 60.22, a P/E/G ratio of 1.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.17 and a current ratio of 2.67. ATI Inc. has a 52 week low of $70.42 and a 52 week high of $205.31.
ATI (NYSE:ATI - Get Free Report) last issued its earnings results on Thursday, April 30th. The basic materials company reported $1.00 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the business earned $0.72 earnings per share. The company's revenue was up .6% compared to the same quarter last year. As a group, analysts anticipate that ATI Inc. will post 4.49 earnings per share for the current year.
About ATI
(
Free Report)
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.
Further Reading
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