Sapience Investments LLC Trims Position in ATI Inc. (NYSE:ATI)

Sapience Investments LLC decreased its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,038 shares of the basic materials company's stock after selling 9,165 shares during the period. ATI accounts for 1.6% of Sapience Investments LLC's investment portfolio, making the stock its 22nd biggest holding. Sapience Investments LLC's holdings in ATI were worth $2,754,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its stake in shares of ATI by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company's stock valued at $215,000 after acquiring an additional 192 shares during the period. Keystone Financial Group grew its stake in shares of ATI by 5.3% during the 4th quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company's stock worth $217,000 after acquiring an additional 200 shares in the last quarter. Pier 88 Investment Partners LLC increased its stake in ATI by 3.0% in the 4th quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company's stock valued at $419,000 after buying an additional 220 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of ATI by 2.1% in the fourth quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company's stock valued at $643,000 after acquiring an additional 240 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of ATI by 20.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company's stock worth $95,000 after purchasing an additional 288 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Susquehanna upped their price objective on shares of ATI from $70.00 to $73.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. Barclays upped their price objective on shares of ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Wall Street Zen raised ATI from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. BTIG Research set a $90.00 price objective on shares of ATI and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Benchmark reissued a "buy" rating and set a $81.00 price target on shares of ATI in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $76.14.

ATI Price Performance

Shares of NYSE ATI traded down $0.14 during mid-day trading on Thursday, reaching $75.03. 665,912 shares of the company were exchanged, compared to its average volume of 1,742,229. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The company's 50 day moving average price is $56.20 and its 200 day moving average price is $57.05. ATI Inc. has a 52 week low of $39.23 and a 52 week high of $76.74. The stock has a market capitalization of $10.58 billion, a PE ratio of 29.41, a PEG ratio of 0.85 and a beta of 1.01.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. ATI had a net margin of 8.43% and a return on equity of 21.16%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $0.48 EPS. The firm's revenue was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total value of $3,409,000.00. Following the completion of the sale, the chairman now directly owns 506,538 shares of the company's stock, valued at approximately $34,535,760.84. This represents a 8.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

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.