ARK Investment Management LLC Reduces Stock Position in ATI Inc. (NYSE:ATI)

ARK Investment Management LLC cut its position in ATI Inc. (NYSE:ATI) by 14.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,425 shares of the basic materials company’s stock after selling 247 shares during the period. ARK Investment Management LLC’s holdings in ATI were worth $78,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc boosted its position in ATI by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company’s stock valued at $215,000 after buying an additional 192 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of ATI by 2.1% in the 4th quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company’s stock valued at $643,000 after acquiring an additional 240 shares during the last quarter. KBC Group NV boosted its holdings in shares of ATI by 12.9% in the 3rd quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock valued at $225,000 after acquiring an additional 385 shares during the last quarter. Souders Financial Advisors increased its stake in shares of ATI by 6.1% in the third quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock worth $477,000 after acquiring an additional 411 shares during the period. Finally, Quarry LP raised its holdings in shares of 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.

Insider Buying and Selling at ATI

In other ATI news, SVP Tina Killough Busch sold 2,598 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the completion of the sale, the senior vice president now directly owns 21,553 shares in the company, valued at approximately $1,293,611.06. The trade was a 10.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the transaction, the chairman now owns 436,443 shares in the company, valued at approximately $25,745,772.57. This trade represents a 5.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,498 shares of company stock valued at $2,288,141 over the last ninety days. Corporate insiders own 1.05% of the company’s stock.

ATI Stock Performance

Shares of ATI stock opened at $56.72 on Thursday. 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 Inc. has a 12-month low of $47.54 and a 12-month high of $68.92. The business’s 50 day moving average is $57.98 and its two-hundred day moving average is $59.95. The company has a market capitalization of $8.09 billion, a P/E ratio of 22.24, a P/E/G ratio of 0.85 and a beta of 1.10.

ATI (NYSE:ATI) last announced its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (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 firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Analysts expect that ATI Inc. will post 2.89 EPS for the current fiscal year.

Analysts Set New Price Targets

ATI has been the topic of several recent research reports. Barclays upped their price target on shares of ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, February 10th. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Benchmark lifted their price target on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Susquehanna upped their price objective on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

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.