US Bancorp DE Sells 488 Shares of ATI Inc. (NYSE:ATI)

US Bancorp DE lessened its holdings in ATI Inc. (NYSE:ATI) by 32.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,026 shares of the basic materials company’s stock after selling 488 shares during the quarter. US Bancorp DE’s holdings in ATI were worth $40,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ATI. OLD Mission Capital LLC bought a new stake in shares of ATI in the fourth quarter worth $56,000. Point72 Middle East FZE bought a new stake in ATI during the fourth quarter worth $75,000. Harbour Investments Inc. bought a new stake in ATI during the fourth quarter worth $127,000. Captrust Financial Advisors raised its position in ATI by 185.5% during the first quarter. Captrust Financial Advisors now owns 5,962 shares of the basic materials company’s stock worth $160,000 after acquiring an additional 3,874 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in ATI during the fourth quarter worth $202,000.

Wall Street Analysts Forecast Growth

ATI has been the topic of several analyst reports. KeyCorp upped their price target on shares of ATI from $47.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. JPMorgan Chase & Co. upped their price target on shares of ATI from $45.00 to $50.00 in a research report on Monday, May 8th. StockNews.com initiated coverage on shares of ATI in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Northcoast Research initiated coverage on shares of ATI in a report on Thursday, July 20th. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, Barclays upped their price objective on shares of ATI from $42.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.33.

ATI Trading Up 1.8 %

ATI stock opened at $46.13 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.20 and a current ratio of 2.74. The company’s 50-day simple moving average is $44.60 and its 200 day simple moving average is $40.64. ATI Inc. has a 52 week low of $25.39 and a 52 week high of $47.92. The company has a market capitalization of $5.93 billion, a PE ratio of 23.66 and a beta of 1.25.

ATI (NYSE:ATI) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. ATI had a net margin of 6.88% and a return on equity of 26.99%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. As a group, sell-side analysts anticipate that ATI Inc. will post 2.26 earnings per share for the current year.

Insider Activity at ATI

In related news, VP Timothy J. Harris sold 12,858 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $43.57, for a total value of $560,223.06. Following the transaction, the vice president now directly owns 76,992 shares in the company, valued at $3,354,541.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ATI news, VP Timothy J. Harris sold 12,858 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $43.57, for a total transaction of $560,223.06. Following the sale, the vice president now directly owns 76,992 shares in the company, valued at $3,354,541.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Elliot S. Davis sold 7,039 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $40.00, for a total transaction of $281,560.00. Following the sale, the insider now owns 148,666 shares in the company, valued at $5,946,640. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,975 shares of company stock worth $1,457,696. Corporate insiders own 0.82% of the company’s stock.

About ATI

ATI Inc manufactures and sells specialty materials and 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, 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.