Wedge Capital Management L L P NC Cuts Position in ATI Inc. (NYSE:ATI)

Wedge Capital Management L L P NC reduced its stake in shares of ATI Inc. (NYSE:ATIGet Rating) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 251,367 shares of the basic materials company’s stock after selling 2,764 shares during the period. Wedge Capital Management L L P NC owned approximately 0.20% of ATI worth $5,709,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Advisory LLC purchased a new stake in ATI during the fourth quarter worth about $32,000. FNY Investment Advisers LLC boosted its stake in shares of ATI by 1,460.0% during the 1st quarter. FNY Investment Advisers LLC now owns 1,560 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 1,460 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of ATI by 2,264.0% during the 1st quarter. National Bank of Canada FI now owns 2,364 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 2,264 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of ATI in the 1st quarter worth approximately $99,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in ATI in the 1st quarter valued at approximately $110,000.

Analyst Ratings Changes

Several analysts have weighed in on the company. KeyCorp upped their target price on ATI from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Wolfe Research upgraded shares of ATI from a “peer perform” rating to an “outperform” rating and set a $33.00 target price for the company in a research report on Friday, August 5th. Finally, Benchmark increased their price target on shares of ATI to $37.00 in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, ATI has a consensus rating of “Moderate Buy” and a consensus target price of $30.14.

Insider Activity

In related news, CAO Karl D. Schwartz sold 1,000 shares of the stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $31.22, for a total transaction of $31,220.00. Following the transaction, the chief accounting officer now directly owns 63,833 shares in the company, valued at $1,992,866.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ATI news, CAO Karl D. Schwartz sold 1,000 shares of ATI stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $31.22, for a total value of $31,220.00. Following the completion of the sale, the chief accounting officer now owns 63,833 shares in the company, valued at approximately $1,992,866.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Karl D. Schwartz sold 2,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $25.00, for a total transaction of $50,000.00. Following the transaction, the chief accounting officer now directly owns 64,833 shares of the company’s stock, valued at approximately $1,620,825. The disclosure for this sale can be found here. Insiders sold a total of 16,500 shares of company stock valued at $412,540 over the last quarter. Company insiders own 0.82% of the company’s stock.

ATI Stock Performance

Shares of NYSE ATI opened at $30.29 on Wednesday. The company has a 50-day simple moving average of $28.67 and a 200-day simple moving average of $26.96. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.89 and a quick ratio of 1.30. The company has a market cap of $3.93 billion, a PE ratio of 757.44 and a beta of 1.23. ATI Inc. has a 12 month low of $13.85 and a 12 month high of $33.31.

ATI (NYSE:ATIGet Rating) last announced its earnings results on Thursday, August 4th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.17. The firm had revenue of $959.50 million for the quarter, compared to analyst estimates of $837.33 million. ATI had a net margin of 0.36% and a return on equity of 21.63%. ATI’s revenue was up 55.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) earnings per share. On average, equities analysts anticipate that ATI Inc. will post 2.02 earnings per share for the current year.

About ATI

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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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Institutional Ownership by Quarter for ATI (NYSE:ATI)

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