Charles Schwab Investment Management Inc. Decreases Stock Holdings in ATI Inc. (NYSE:ATI)

Charles Schwab Investment Management Inc. trimmed its stake in shares of ATI Inc. (NYSE:ATI) by 4.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,492,516 shares of the basic materials company’s stock after selling 70,546 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.06% of ATI worth $77,656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ATI. Golden State Wealth Management LLC raised its holdings in shares of ATI by 104.1% during the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 304 shares during the last quarter. Bessemer Group Inc. increased its holdings in ATI by 139.9% during the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company’s stock valued at $34,000 after buying an additional 386 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in ATI during the first quarter valued at approximately $36,000. Fifth Third Bancorp increased its holdings in ATI by 115.7% during the first quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company’s stock valued at $58,000 after buying an additional 603 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in ATI by 418.1% during the first quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company’s stock valued at $69,000 after buying an additional 1,062 shares during the last quarter.

Insiders Place Their Bets

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total transaction of $3,733,000.00. Following the completion of the transaction, the chairman owned 306,538 shares in the company, valued at approximately $22,886,127.08. This represents a 14.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David J. Morehouse sold 7,900 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $75.81, for a total transaction of $598,899.00. Following the transaction, the director owned 44,777 shares of the company’s stock, valued at $3,394,544.37. This trade represents a 15.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 203,259 shares of company stock valued at $16,026,385. 1.10% of the stock is owned by company insiders.

ATI Price Performance

Shares of NYSE:ATI opened at $75.36 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.20 and a current ratio of 2.52. The firm has a fifty day moving average price of $85.07 and a 200 day moving average price of $68.24. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $96.20. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 1.03 and a beta of 1.20.

ATI (NYSE:ATI) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. ATI had a net margin of 9.26% and a return on equity of 21.34%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. ATI’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts expect that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on ATI shares. BTIG Research set a $120.00 target price on shares of ATI and gave the company a “buy” rating in a report on Monday, August 4th. Benchmark reaffirmed a “buy” rating and set a $81.00 target price on shares of ATI in a report on Monday, April 21st. JPMorgan Chase & Co. upped their target price on shares of ATI from $75.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Barclays increased their price objective on shares of ATI from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of ATI and gave the stock a “hold” rating in a research note on Tuesday, July 8th. 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, ATI currently has a consensus rating of “Moderate Buy” and an average target price of $93.29.

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.