Russell Investments Group Ltd. reduced its stake in ATI Inc. (NYSE:ATI – Get Rating) by 29.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,830 shares of the basic materials company's stock after selling 50,501 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of ATI worth $3,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of ATI in the fourth quarter worth approximately $554,000. State of New Jersey Common Pension Fund D raised its position in shares of ATI by 20.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 175,211 shares of the basic materials company's stock worth $2,791,000 after purchasing an additional 30,231 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ATI by 23.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,213 shares of the basic materials company's stock worth $274,000 after purchasing an additional 3,251 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of ATI by 13.1% in the 4th quarter. New York State Common Retirement Fund now owns 1,195,977 shares of the basic materials company's stock worth $19,052,000 after purchasing an additional 138,391 shares during the last quarter. Finally, Boston Partners purchased a new position in ATI in the 4th quarter worth about $513,000.
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A number of equities research analysts have issued reports on ATI shares. Wolfe Research upgraded ATI from a "peer perform" rating to an "outperform" rating and set a $33.00 price target for the company in a research note on Friday, August 5th. KeyCorp boosted their price objective on ATI from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, August 5th. Finally, Benchmark boosted their price target on ATI to $37.00 in a report on Tuesday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.14.
Insider Transactions at ATI
In related news, Director James C. Diggs sold 12,500 shares of ATI stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $24.00, for a total transaction of $300,000.00. Following the transaction, the director now owns 46,060 shares in the company, valued at $1,105,440. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other ATI news, Director James C. Diggs sold 12,500 shares of ATI stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $24.00, for a total value of $300,000.00. Following the sale, the director now owns 46,060 shares in the company, valued at $1,105,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Karl D. Schwartz sold 2,000 shares of the business's stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the completion of the sale, the chief accounting officer now owns 64,833 shares in the company, valued at approximately $1,620,825. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company's stock.ATI Trading Up 0.4 %
ATI stock opened at $31.41 on Friday. ATI Inc. has a one year low of $13.85 and a one year high of $32.09. The stock has a market cap of $4.08 billion, a PE ratio of 785.45 and a beta of 1.31. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.30 and a current ratio of 2.89. The stock has a 50-day moving average of $24.43 and a two-hundred day moving average of $25.44.
ATI (NYSE:ATI – Get Rating) last posted its earnings results on Thursday, August 4th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.37 by $0.17. ATI had a return on equity of 21.63% and a net margin of 0.36%. The firm had revenue of $959.50 million for the quarter, compared to analyst estimates of $837.33 million. During the same period last year, the company earned ($0.12) earnings per share. ATI's revenue for the quarter was up 55.7% compared to the same quarter last year. On average, research analysts anticipate that ATI Inc. will post 1.63 EPS for the current fiscal year.
ATI Profile
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ATI Inc manufactures and sells specialty materials and components worldwide. The company 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, 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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