Sequoia Financial Advisors LLC Sells 817 Shares of ATI Inc. (NYSE:ATI)

Sequoia Financial Advisors LLC lessened its holdings in shares of ATI Inc. (NYSE:ATI) by 16.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,178 shares of the basic materials company’s stock after selling 817 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in ATI were worth $217,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ATI. Proficio Capital Partners LLC bought a new position in ATI during the fourth quarter valued at approximately $618,000. Smartleaf Asset Management LLC raised its position in ATI by 236.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 1,690 shares in the last quarter. Jones Financial Companies Lllp raised its position in ATI by 13.7% during the fourth quarter. Jones Financial Companies Lllp now owns 10,571 shares of the basic materials company’s stock valued at $582,000 after acquiring an additional 1,274 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in ATI by 14.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company’s stock valued at $86,031,000 after acquiring an additional 191,823 shares in the last quarter. Finally, Keybank National Association OH raised its position in ATI by 11.4% during the fourth quarter. Keybank National Association OH now owns 9,405 shares of the basic materials company’s stock valued at $518,000 after acquiring an additional 965 shares in the last quarter.

Analyst Ratings Changes

ATI has been the topic of several analyst reports. BTIG Research set a $105.00 price target on ATI and gave the company a “buy” rating in a report on Wednesday, May 28th. KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a report on Tuesday, May 20th. Benchmark reiterated a “buy” rating and set a $81.00 price target on shares of ATI in a report on Monday, April 21st. Finally, Citigroup upgraded ATI to a “positive” rating in a report on Tuesday, May 20th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.29.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total value of $3,409,000.00. Following the completion of the transaction, the chairman directly owned 506,538 shares of the company’s stock, valued at $34,535,760.84. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 195,359 shares of company stock valued at $15,103,486 over the last three months. 1.10% of the stock is owned by company insiders.

ATI Trading Up 1.4%

Shares of ATI stock opened at $86.85 on Friday. The company’s fifty day simple moving average is $77.76 and its 200-day simple moving average is $62.53. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 1.22 and a beta of 1.13. The company has a current ratio of 2.53, a quick ratio of 1.30 and a debt-to-equity ratio of 0.86. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $87.75.

ATI (NYSE:ATI) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. ATI had a net margin of 8.93% and a return on equity of 21.37%. ATI’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share. As a group, sell-side analysts expect that ATI Inc. will post 2.89 EPS for the current year.

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.