ATI Inc. (NYSE:ATI) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lessened its stake in shares of ATI Inc. (NYSE:ATI) by 5.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,553 shares of the basic materials company’s stock after selling 579 shares during the quarter. Cerity Partners LLC’s holdings in ATI were worth $497,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ATI. Xponance Inc. grew its position in ATI by 15.5% during the 4th quarter. Xponance Inc. now owns 5,406 shares of the basic materials company’s stock worth $298,000 after purchasing an additional 724 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in ATI during the 4th quarter worth approximately $1,464,000. Vanguard Group Inc. grew its position in ATI by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock worth $844,061,000 after purchasing an additional 2,020,313 shares in the last quarter. Prudential Financial Inc. grew its position in ATI by 8.5% during the 4th quarter. Prudential Financial Inc. now owns 142,652 shares of the basic materials company’s stock worth $8,013,000 after purchasing an additional 11,135 shares in the last quarter. Finally, NEOS Investment Management LLC grew its position in ATI by 22.9% during the 4th quarter. NEOS Investment Management LLC now owns 77,616 shares of the basic materials company’s stock worth $4,272,000 after purchasing an additional 14,454 shares in the last quarter.

ATI Stock Up 1.8%

ATI stock opened at $94.99 on Friday. 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 12-month low of $39.23 and a 12-month high of $95.17. The firm’s fifty day moving average is $84.79 and its 200 day moving average is $66.22. The company has a market capitalization of $13.40 billion, a PE ratio of 34.42, a PEG ratio of 1.25 and a beta of 1.13.

ATI (NYSE:ATI) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $1.14 billion during 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%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, sell-side analysts predict that ATI Inc. will post 2.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ATI has been the topic of several research analyst reports. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Tuesday, May 20th. Benchmark restated a “buy” rating and set a $81.00 price target on shares of ATI in a report on Monday, April 21st. Susquehanna boosted their price target on shares of ATI from $73.00 to $105.00 and gave the company a “positive” rating in a report on Monday, July 14th. Citigroup upgraded shares of ATI to a “positive” rating in a report on Tuesday, May 20th. Finally, 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.29.

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 sale, the chairman 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 legal filing with the SEC, which is available through this link. Insiders have sold 195,359 shares of company stock worth $15,103,486 in the last quarter. 1.10% of the stock is owned by company insiders.

About ATI

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.