Mirae Asset Global Investments Co. Ltd. Cuts Stock Position in ATI Inc. (NYSE:ATI)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of ATI Inc. (NYSE:ATI) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,443 shares of the basic materials company’s stock after selling 1,226 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ATI were worth $583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in ATI in the fourth quarter valued at about $618,000. Smartleaf Asset Management LLC increased its position in ATI by 236.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 1,690 shares during the period. Jones Financial Companies Lllp increased its position in ATI by 13.7% during the 4th quarter. Jones Financial Companies Lllp now owns 10,571 shares of the basic materials company’s stock worth $582,000 after purchasing an additional 1,274 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of ATI by 14.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company’s stock worth $86,031,000 after buying an additional 191,823 shares in the last quarter. Finally, Keybank National Association OH lifted its holdings in shares of ATI by 11.4% in the 4th quarter. Keybank National Association OH now owns 9,405 shares of the basic materials company’s stock valued at $518,000 after buying an additional 965 shares during the period.

Insider Buying and Selling at ATI

In other ATI 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 transaction of $3,409,000.00. Following the completion of the transaction, the chairman owned 506,538 shares of the company’s stock, valued at approximately $34,535,760.84. This trade represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 195,359 shares of company stock worth $15,103,486. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

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

ATI Trading Up 1.4%

Shares of ATI stock opened at $86.85 on Friday. The stock has a market cap of $12.25 billion, a P/E ratio of 31.47, a P/E/G ratio of 1.22 and a beta of 1.13. The company has a quick ratio of 1.30, a current ratio of 2.53 and a debt-to-equity ratio of 0.86. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $87.75. The business has a fifty day simple moving average of $77.76 and a 200-day simple moving average of $62.59.

ATI (NYSE:ATI) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.07 billion. ATI had a net margin of 8.93% and a return on equity of 21.37%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 EPS. On average, analysts forecast that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

ATI Company 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.