Vanguard Group Inc. Reduces Stake in ATI Inc. (NYSE:ATI)

Vanguard Group Inc. cut its position in ATI Inc. (NYSE:ATI - Free Report) by 9.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,896,542 shares of the basic materials company's stock after selling 1,438,867 shares during the period. Vanguard Group Inc. owned 9.85% of ATI worth $723,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new stake in shares of ATI in the first quarter worth approximately $1,243,000. Bank of New York Mellon Corp boosted its stake in shares of ATI by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 902,200 shares of the basic materials company's stock worth $46,941,000 after acquiring an additional 11,048 shares during the last quarter. GAMMA Investing LLC boosted its stake in ATI by 39.2% during the first quarter. GAMMA Investing LLC now owns 3,478 shares of the basic materials company's stock worth $181,000 after buying an additional 979 shares during the last quarter. KBC Group NV boosted its stake in ATI by 14.2% during the first quarter. KBC Group NV now owns 5,779 shares of the basic materials company's stock worth $301,000 after buying an additional 720 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in ATI by 139.9% during the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock worth $34,000 after buying an additional 386 shares during the last quarter.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the 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 transaction, the chairman owned 306,538 shares in the company, valued at approximately $22,886,127.08. This represents a 14.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David J. Morehouse sold 7,900 shares of the 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 in the company, valued at approximately $3,394,544.37. The trade was a 15.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 203,259 shares of company stock worth $16,026,385. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ATI shares. BTIG Research set a $120.00 price objective on ATI and gave the stock a "buy" rating in a research note on Monday, August 4th. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Citigroup raised ATI to a "positive" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. boosted their price objective on ATI from $75.00 to $92.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Barclays boosted 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $93.29.

ATI Trading Down 2.1%

Shares of ATI stock traded down $1.54 during trading hours on Friday, hitting $72.48. The company's stock had a trading volume of 1,936,936 shares, compared to its average volume of 2,331,317. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $96.20. The firm has a fifty day moving average of $84.67 and a 200-day moving average of $68.46. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 1.01 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 (NYSE:ATI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating 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 return on equity of 21.34% and a net margin of 9.26%. The company's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. Research analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

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.