Cetera Trust Company N.A Reduces Stock Position in ATI Inc. (NYSE:ATI)

Cetera Trust Company N.A trimmed its position in shares of ATI Inc. (NYSE:ATI) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,798 shares of the basic materials company’s stock after selling 175 shares during the quarter. Cetera Trust Company N.A’s holdings in ATI were worth $374,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. ORG Wealth Partners LLC acquired a new stake in ATI in the 4th quarter valued at about $25,000. Quarry LP purchased a new stake in ATI during the 2nd quarter worth about $26,000. UMB Bank n.a. lifted its holdings in ATI by 557.0% in the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 791 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of ATI by 66.0% during the third quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock worth $224,000 after buying an additional 1,330 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of ATI by 12.9% during the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock valued at $225,000 after buying an additional 385 shares during the period.

ATI Stock Up 1.7 %

Shares of ATI stock opened at $58.18 on Wednesday. The firm has a market cap of $8.30 billion, a P/E ratio of 22.60, a P/E/G ratio of 1.52 and a beta of 1.12. The business has a 50-day moving average price of $56.95 and a 200 day moving average price of $60.19. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. ATI Inc. has a fifty-two week low of $38.04 and a fifty-two week high of $68.92.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.06). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS. On average, sell-side analysts forecast that ATI Inc. will post 2.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ATI has been the topic of a number of recent analyst reports. Susquehanna reduced their price target on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price target on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.71.

Insider Activity

In other ATI news, SVP Tina Killough Busch sold 2,598 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the completion of the sale, the senior vice president now directly owns 21,553 shares in the company, valued at $1,293,611.06. This represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the transaction, the chairman now owns 436,443 shares in the company, valued at approximately $25,745,772.57. This trade represents a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

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.