Shelton Capital Management Trims Stock Holdings in ATI Inc. (NYSE:ATI)

Shelton Capital Management lessened its position in shares of ATI Inc. (NYSE:ATI) by 4.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,050 shares of the basic materials company’s stock after selling 323 shares during the quarter. Shelton Capital Management’s holdings in ATI were worth $312,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Belpointe Asset Management LLC boosted its position in ATI by 65.3% in the first quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company’s stock valued at $33,000 after buying an additional 333 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of ATI in the 1st quarter valued at $37,000. Archer Investment Corp acquired a new stake in shares of ATI in the first quarter worth $98,000. Point72 Middle East FZE purchased a new position in shares of ATI during the fourth quarter worth $75,000. Finally, Tower Research Capital LLC TRC lifted its position in ATI by 322.5% during the first quarter. Tower Research Capital LLC TRC now owns 3,190 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 2,435 shares during the period.

Insider Transactions at ATI

In related news, Director James C. Diggs sold 2,674 shares of ATI stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $44.90, for a total value of $120,062.60. Following the completion of the transaction, the director now owns 46,591 shares in the company, valued at $2,091,935.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

ATI has been the subject of a number of analyst reports. Barclays boosted their price target on ATI from $42.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. KeyCorp lowered their price target on shares of ATI from $49.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. Finally, StockNews.com began coverage on shares of ATI in a report on Thursday, October 5th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.17.

ATI Price Performance

ATI opened at $44.59 on Tuesday. The stock’s 50-day moving average price is $40.98 and its 200 day moving average price is $41.58. ATI Inc. has a 12-month low of $27.97 and a 12-month high of $47.92. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 21.75 and a beta of 1.27. The company has a current ratio of 3.13, a quick ratio of 1.50 and a debt-to-equity ratio of 1.58.

ATI Profile

ATI Inc manufactures and sells specialty materials and 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, 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.