LPL Financial LLC Raises Holdings in ATI Inc. (NYSE:ATI)

LPL Financial LLC grew its position in shares of ATI Inc. (NYSE:ATI) by 18.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,808 shares of the basic materials company’s stock after purchasing an additional 8,876 shares during the quarter. LPL Financial LLC’s holdings in ATI were worth $2,956,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ATI. Nisa Investment Advisors LLC lifted its stake in shares of ATI by 1.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 17,261 shares of the basic materials company’s stock worth $898,000 after acquiring an additional 265 shares during the period. Golden State Wealth Management LLC raised its position in shares of ATI by 104.1% during the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 304 shares during the last quarter. Bessemer Group Inc. raised its holdings in ATI by 139.9% in the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 386 shares during the last quarter. Fifth Third Bancorp raised its holdings in ATI by 115.7% in the 1st quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 603 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its holdings in ATI by 1.3% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 51,169 shares of the basic materials company’s stock valued at $2,816,000 after acquiring an additional 680 shares during the last quarter.

Insider Buying and Selling at ATI

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

ATI Trading Down 2.1%

NYSE ATI opened at $72.48 on Friday. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $96.20. 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 stock has a market cap of $9.99 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 0.99 and a beta of 1.20. The firm’s 50 day moving average price is $84.67 and its two-hundred day moving average price is $68.52.

ATI (NYSE:ATI) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.60 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.

Analyst Upgrades and Downgrades

ATI has been the subject of a number of research reports. Benchmark reiterated a “buy” rating and set a $81.00 target price on shares of ATI in a report on Monday, April 21st. Susquehanna decreased their price objective on shares of ATI from $105.00 to $100.00 and set a “positive” rating for the company in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their price target on shares of ATI from $75.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, May 20th. Finally, Barclays lifted their price target on ATI from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $93.29.

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.