Tower Research Capital LLC TRC Cuts Stock Position in ATI Inc. (NYSE:ATI)

Tower Research Capital LLC TRC lowered its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 49.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,406 shares of the basic materials company's stock after selling 9,326 shares during the quarter. Tower Research Capital LLC TRC's holdings in ATI were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Capital International Inc. CA increased its position in shares of ATI by 1.4% during the 4th quarter. Capital International Inc. CA now owns 549,716 shares of the basic materials company's stock valued at $30,256,000 after purchasing an additional 7,517 shares during the last quarter. Capital World Investors increased its holdings in ATI by 100.5% during the fourth quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company's stock worth $378,432,000 after buying an additional 3,446,919 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in ATI by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,557,503 shares of the basic materials company's stock worth $140,765,000 after buying an additional 82,189 shares during the last quarter. Capital International Investors raised its position in ATI by 5.4% in the fourth quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company's stock worth $875,190,000 after acquiring an additional 817,182 shares during the period. Finally, Capital International Sarl purchased a new position in ATI in the fourth quarter valued at about $299,000.

ATI Price Performance

Shares of ATI traded up $4.45 during midday trading on Friday, hitting $66.69. 4,011,909 shares of the company traded hands, compared to its average volume of 1,706,131. ATI Inc. has a one year low of $39.23 and a one year high of $68.92. The firm has a market cap of $9.41 billion, a P/E ratio of 26.15, a PEG ratio of 0.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. The stock has a 50-day moving average of $51.46 and a 200-day moving average of $55.79.

ATI (NYSE:ATI - Get Free Report) last posted its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, topping 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 business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm posted $0.48 EPS. ATI's revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts predict that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insider Activity at ATI

In other news, SVP Tina Killough Busch sold 9,900 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the completion of the transaction, the senior vice president now owns 25,994 shares of the company's stock, valued at approximately $1,726,261.54. The trade was a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ATI. Benchmark reaffirmed a "buy" rating and issued a $81.00 price target on shares of ATI in a report on Monday, April 21st. KeyCorp raised ATI from a "sector weight" rating to an "overweight" rating and set a $55.00 price target on the stock in a research report on Wednesday, April 23rd. Barclays lifted their price objective on ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. StockNews.com raised shares of ATI from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Susquehanna lifted their target price on shares of ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $73.29.

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.