Victory Capital Management Inc. lessened its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 93.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,352 shares of the basic materials company's stock after selling 478,212 shares during the quarter. Victory Capital Management Inc.'s holdings in ATI were worth $1,631,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its holdings in ATI by 104.1% in the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 304 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of ATI by 139.9% during the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 386 shares in the last quarter. Olde Wealth Management LLC acquired a new stake in shares of ATI during the first quarter valued at about $36,000. Fifth Third Bancorp grew its stake in shares of ATI by 115.7% during the first quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock valued at $58,000 after acquiring an additional 603 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of ATI by 418.1% during the first quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company's stock worth $69,000 after purchasing an additional 1,062 shares during the last quarter.
Analyst Upgrades and Downgrades
ATI has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $115.00 target price on shares of ATI and gave the stock a "hold" rating in a report on Tuesday, July 8th. Benchmark reaffirmed a "buy" rating and issued a $81.00 price objective on shares of ATI in a research note on Monday, April 21st. BTIG Research set a $105.00 price objective on shares of ATI and gave the stock a "buy" rating in a research note on Wednesday, May 28th. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. Finally, Citigroup raised ATI to a "positive" rating in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, ATI has a consensus rating of "Moderate Buy" and an average price target of $89.00.
Check Out Our Latest Report on ATI
ATI Stock Down 0.4%
Shares of ATI stock traded down $0.30 on Friday, hitting $76.64. 3,712,953 shares of the company traded hands, compared to its average volume of 1,815,700. The company has a 50-day moving average price of $85.97 and a 200 day moving average price of $67.32. The company has a quick ratio of 1.30, a current ratio of 2.52 and a debt-to-equity ratio of 0.92. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $96.20. The company has a market cap of $10.81 billion, a PE ratio of 26.61, a PEG ratio of 1.02 and a beta of 1.20.
ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.15 billion. ATI had a net margin of 9.26% and a return on equity of 21.34%. ATI's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Sell-side analysts predict that ATI Inc. will post 2.89 earnings per share for the current year.
Insider Transactions at ATI
In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $83.93, for a total value of $4,196,500.00. Following the completion of the sale, the chairman directly owned 356,538 shares in the company, valued at approximately $29,924,234.34. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 195,359 shares of company stock valued at $15,103,486 in the last three months. Corporate insiders own 1.10% of the company's stock.
ATI Profile
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Free Report)
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.
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