ATI Inc. (NYSE:ATI) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC reduced its position in shares of ATI Inc. (NYSE:ATI) by 37.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 200,982 shares of the basic materials company’s stock after selling 119,244 shares during the period. Voloridge Investment Management LLC owned about 0.14% of ATI worth $11,062,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ATI. Capital World Investors increased its position in ATI by 100.5% in the fourth quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company’s stock worth $378,432,000 after buying an additional 3,446,919 shares during the period. Dendur Capital LP increased its position in ATI by 601.7% in the fourth quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company’s stock worth $196,328,000 after buying an additional 3,058,628 shares during the period. Vanguard Group Inc. increased its position in ATI by 15.2% in the fourth quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock worth $844,061,000 after buying an additional 2,020,313 shares during the period. Norges Bank acquired a new stake in ATI in the fourth quarter worth $85,047,000. Finally, Capital International Investors increased its position in ATI by 5.4% in the fourth quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company’s stock worth $875,190,000 after buying an additional 817,182 shares during the period.

ATI Trading Up 0.6%

Shares of ATI stock opened at $75.62 on Friday. The stock has a 50-day simple moving average of $57.18 and a 200 day simple moving average of $57.34. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $76.74. The stock has a market capitalization of $10.67 billion, a P/E ratio of 29.66, a P/E/G ratio of 0.85 and a beta of 1.01. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88.

ATI (NYSE:ATI) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. ATI had a return on equity of 21.16% and a net margin of 8.43%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business posted $0.48 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts expect that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total value of $3,409,000.00. Following the completion of the transaction, the chairman now owns 506,538 shares in the company, valued at $34,535,760.84. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a report on Tuesday, May 20th. Citigroup raised ATI to a “positive” rating in a report on Tuesday. Susquehanna raised their price target on ATI from $70.00 to $73.00 and gave the company a “positive” rating in a report on Wednesday, February 5th. Benchmark reissued a “buy” rating and set a $81.00 price target on shares of ATI in a report on Monday, April 21st. Finally, Barclays raised their price target on ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ATI presently has an average rating of “Moderate Buy” and a consensus target price of $76.14.

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.