Comerica Bank Decreases Stock Position in ATI Inc. (NYSE:ATI)

Comerica Bank lowered its stake in ATI Inc. (NYSE:ATI – Get Rating) by 17.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 141,476 shares of the basic materials company’s stock after selling 30,676 shares during the period. Comerica Bank owned approximately 0.11% of ATI worth $4,135,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of ATI by 1.9% in the first quarter. Vanguard Group Inc. now owns 14,083,087 shares of the basic materials company’s stock worth $377,991,000 after buying an additional 267,434 shares during the period. State Street Corp increased its holdings in ATI by 14.8% during the 1st quarter. State Street Corp now owns 9,941,032 shares of the basic materials company’s stock valued at $266,817,000 after purchasing an additional 1,279,827 shares during the period. Driehaus Capital Management LLC increased its holdings in ATI by 24.6% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,377,194 shares of the basic materials company’s stock valued at $53,986,000 after purchasing an additional 469,487 shares during the period. Assenagon Asset Management S.A. increased its holdings in ATI by 186.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,479,726 shares of the basic materials company’s stock valued at $39,376,000 after purchasing an additional 963,620 shares during the period. Finally, Invesco Ltd. increased its holdings in ATI by 105.4% during the 1st quarter. Invesco Ltd. now owns 1,181,206 shares of the basic materials company’s stock valued at $31,703,000 after purchasing an additional 606,005 shares during the period.

ATI Stock Performance

ATI stock opened at $35.44 on Friday. The stock’s 50 day simple moving average is $30.24 and its two-hundred day simple moving average is $28.72. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.40 and a current ratio of 2.88. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 322.21 and a beta of 1.21. ATI Inc. has a fifty-two week low of $17.71 and a fifty-two week high of $35.46.

ATI (NYSE:ATI – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The basic materials company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $936.80 million. ATI had a return on equity of 28.25% and a net margin of 0.67%. The business’s revenue was up 42.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 EPS. As a group, analysts expect that ATI Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at ATI

In other news, insider Elliot S. Davis sold 28,572 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $30.68, for a total value of $876,588.96. Following the sale, the insider now directly owns 160,350 shares of the company’s stock, valued at approximately $4,919,538. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Robert S. Wetherbee sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $30.23, for a total value of $453,450.00. Following the sale, the chief executive officer now directly owns 333,753 shares of the company’s stock, valued at approximately $10,089,353.19. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Elliot S. Davis sold 28,572 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $30.68, for a total value of $876,588.96. Following the completion of the sale, the insider now directly owns 160,350 shares in the company, valued at $4,919,538. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

ATI has been the topic of a number of research analyst reports. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a report on Monday, October 24th. KeyCorp boosted their price target on ATI from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, December 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, ATI has an average rating of “Moderate Buy” and an average target price of $33.20.

ATI Company 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.