Fisher Asset Management LLC Cuts Stake in ATI Inc. (NYSE:ATI)

Fisher Asset Management LLC cut its holdings in shares of ATI Inc. (NYSE:ATI) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 801,873 shares of the basic materials company’s stock after selling 149,050 shares during the quarter. Fisher Asset Management LLC owned 0.63% of ATI worth $36,461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. purchased a new stake in ATI during the 4th quarter valued at about $1,698,000. Ballentine Partners LLC purchased a new stake in shares of ATI during the fourth quarter valued at approximately $1,100,000. Louisiana State Employees Retirement System bought a new position in shares of ATI in the fourth quarter worth approximately $2,901,000. Assenagon Asset Management S.A. increased its stake in shares of ATI by 735.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 355,202 shares of the basic materials company’s stock worth $16,151,000 after buying an additional 312,699 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in ATI by 67.3% during the 3rd quarter. Victory Capital Management Inc. now owns 973,372 shares of the basic materials company’s stock valued at $40,054,000 after buying an additional 391,554 shares during the last quarter.

ATI Price Performance

Shares of NYSE ATI opened at $58.16 on Friday. ATI Inc. has a 1 year low of $34.10 and a 1 year high of $61.58. The stock has a market capitalization of $7.24 billion, a P/E ratio of 23.36, a P/E/G ratio of 1.55 and a beta of 1.17. The company’s 50-day moving average is $50.75 and its 200 day moving average is $45.24. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.81 and a quick ratio of 1.53.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. ATI had a return on equity of 23.72% and a net margin of 8.70%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business earned $0.49 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, sell-side analysts expect that ATI Inc. will post 2.4 earnings per share for the current year.

Insider Activity at ATI

In related news, VP Timothy J. Harris sold 6,325 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.44, for a total transaction of $268,433.00. Following the sale, the vice president now directly owns 109,331 shares of the company’s stock, valued at approximately $4,640,007.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. KeyCorp raised their price target on shares of ATI from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. TheStreet raised ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on ATI in a research report on Thursday, April 11th. They set a “buy” rating and a $70.00 price target for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

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.