Sequoia Financial Advisors LLC Sells 428 Shares of ATI Inc. (NYSE:ATI)

Sequoia Financial Advisors LLC trimmed its position in shares of ATI Inc. (NYSE:ATI) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,220 shares of the basic materials company’s stock after selling 428 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in ATI were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of ATI by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 14,354,401 shares of the basic materials company’s stock valued at $381,970,000 after buying an additional 527,117 shares during the period. State Street Corp lifted its holdings in shares of ATI by 14.8% during the 1st quarter. State Street Corp now owns 9,941,032 shares of the basic materials company’s stock valued at $266,817,000 after buying an additional 1,279,827 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ATI by 4.5% during the 1st quarter. Geode Capital Management LLC now owns 2,357,077 shares of the basic materials company’s stock valued at $93,010,000 after buying an additional 101,022 shares during the period. Palestra Capital Management LLC lifted its holdings in shares of ATI by 839.0% during the 3rd quarter. Palestra Capital Management LLC now owns 2,190,728 shares of the basic materials company’s stock valued at $90,148,000 after buying an additional 1,957,416 shares during the period. Finally, Norges Bank bought a new position in shares of ATI during the 4th quarter valued at $50,336,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ATI shares. TheStreet raised ATI from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Deutsche Bank Aktiengesellschaft initiated coverage on ATI in a report on Thursday, April 11th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, KeyCorp raised their target price on ATI from $49.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.67.

ATI Trading Down 1.1 %

Shares of ATI stock opened at $50.56 on Friday. ATI Inc. has a 52-week low of $34.10 and a 52-week high of $52.98. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.53 and a current ratio of 2.80. The firm has a market capitalization of $6.29 billion, a PE ratio of 20.14, a PEG ratio of 1.44 and a beta of 1.22. The stock has a fifty day simple moving average of $49.04 and a two-hundred day simple moving average of $44.27.

ATI (NYSE:ATI) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. ATI had a return on equity of 24.64% and a net margin of 8.81%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business posted $0.53 EPS. ATI’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts predict that ATI Inc. will post 2.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other ATI news, VP Timothy J. Harris sold 6,325 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the sale, the vice president now owns 109,331 shares in the company, valued at approximately $4,640,007.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is currently owned by company insiders.

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.