TD Waterhouse Canada Inc. reduced its position in shares of ATI Inc. (NYSE:ATI – Free Report) by 67.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,515 shares of the basic materials company’s stock after selling 5,127 shares during the period. TD Waterhouse Canada Inc.’s holdings in ATI were worth $483,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. CoreCap Advisors LLC bought a new stake in shares of ATI during the 2nd quarter worth $30,000. Signature Equity Partners LLC boosted its stake in ATI by 208.5% in the first quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company’s stock valued at $26,000 after buying an additional 123 shares in the last quarter. Triumph Capital Management grew its position in ATI by 22.4% in the second quarter. Triumph Capital Management now owns 317 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 58 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in ATI in the second quarter valued at about $73,000. Finally, Meeder Asset Management Inc. bought a new position in ATI in the second quarter valued at about $77,000.
ATI Trading Down 3.6%
NYSE ATI opened at $199.10 on Friday. The business’s 50-day moving average price is $203.12 and its two-hundred day moving average price is $178.49. ATI Inc. has a 12 month low of $75.02 and a 12 month high of $243.57. The firm has a market capitalization of $27.11 billion, a PE ratio of 58.39, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01. The company has a current ratio of 2.33, a quick ratio of 1.14 and a debt-to-equity ratio of 0.91.
Analyst Ratings Changes
ATI has been the subject of a number of research reports. BTIG Research increased their target price on shares of ATI from $180.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $262.00 price target on shares of ATI in a report on Monday, August 10th. Wall Street Zen upgraded shares of ATI from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research raised shares of ATI from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 25th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $275.00 price objective on shares of ATI in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. According to data from MarketBeat.com, ATI presently has an average rating of “Buy” and an average price target of $232.00.
Get Our Latest Research Report on ATI
Insiders Place Their Bets
In other news, CEO Kimberly A. Fields sold 40,000 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $182.91, for a total transaction of $7,316,400.00. Following the completion of the sale, the chief executive officer directly owned 157,321 shares in the company, valued at $28,775,584.11. This represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Timothy J. Harris sold 16,500 shares of ATI stock in a transaction on Monday, August 31st. The stock was sold at an average price of $210.01, for a total transaction of $3,465,165.00. Following the transaction, the vice president directly owned 130,187 shares of the company’s stock, valued at $27,340,571.87. This represents a 11.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 152,780 shares of company stock worth $30,667,938. 0.98% of the stock is currently owned by insiders.
ATI Company Profile
ATI Inc (NYSE: ATI) is a specialty materials and components manufacturer serving aerospace and defense, medical, energy, transportation, and other demanding industrial markets. The company develops and produces advanced alloys and engineered materials designed to perform in high-temperature, corrosive, and high-stress environments.
ATI’s products include nickel-based superalloys, titanium and titanium-based materials, specialty stainless steels, zirconium and other specialty alloys. Its manufacturing capabilities also include precision forgings, castings, rolled products, and machined components used in aircraft engines, airframes, power-generation equipment, medical devices, and industrial applications.
The company was formed in 1996 through the combination of Allegheny Ludlum Corporation and Teledyne, Inc’s specialty metals operations and adopted the name ATI Inc in 2021.
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