Alberta Investment Management Corp Lowers Stock Holdings in ATI Inc. (NYSE:ATI)

Alberta Investment Management Corp cut its holdings in ATI Inc. (NYSE:ATI) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,826 shares of the basic materials company’s stock after selling 14,155 shares during the quarter. Alberta Investment Management Corp owned 0.06% of ATI worth $4,669,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in shares of ATI in the fourth quarter valued at approximately $25,000. Quarry LP raised its holdings in ATI by 86.4% during the third quarter. Quarry LP now owns 889 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 412 shares during the last quarter. Blue Trust Inc. raised its holdings in ATI by 137.7% during the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 1,516 shares during the last quarter. KBC Group NV raised its holdings in ATI by 12.9% during the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 385 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in ATI during the third quarter worth $239,000.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total value of $1,474,750.00. Following the sale, the chairman now directly owns 436,443 shares in the company, valued at approximately $25,745,772.57. This represents a 5.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Tina Killough Busch sold 9,900 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the completion of the sale, the senior vice president now owns 25,994 shares in the company, valued at approximately $1,726,261.54. This represents a 27.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,498 shares of company stock worth $2,288,141 over the last quarter. Corporate insiders own 1.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ATI shares. Barclays boosted their price target on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Susquehanna boosted their price target on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a report on Wednesday, February 5th. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. StockNews.com raised ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Benchmark boosted their price target on ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.00.

ATI Stock Down 1.1 %

Shares of ATI stock opened at $61.46 on Thursday. ATI Inc. has a twelve month low of $44.15 and a twelve month high of $68.92. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 0.90 and a beta of 1.10. The business’s 50 day simple moving average is $57.77 and its 200-day simple moving average is $60.06. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88.

ATI (NYSE:ATI) last announced its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that ATI Inc. will post 2.89 earnings per share for the current year.

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.