American International Group Inc. Reduces Position in ATI Inc. (NYSE:ATI)

American International Group Inc. lessened its stake in shares of ATI Inc. (NYSE:ATI) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,147 shares of the basic materials company’s stock after selling 635 shares during the quarter. American International Group Inc. owned approximately 0.05% of ATI worth $3,190,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Evergreen Capital Management LLC lifted its stake in ATI by 4.1% in the third quarter. Evergreen Capital Management LLC now owns 6,582 shares of the basic materials company’s stock worth $271,000 after acquiring an additional 258 shares during the period. Covestor Ltd lifted its stake in ATI by 73.1% in the third quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 441 shares during the period. Raymond James & Associates lifted its stake in ATI by 2.0% in the fourth quarter. Raymond James & Associates now owns 27,585 shares of the basic materials company’s stock worth $1,254,000 after acquiring an additional 529 shares during the period. Mariner LLC lifted its stake in ATI by 3.4% in the third quarter. Mariner LLC now owns 16,646 shares of the basic materials company’s stock worth $685,000 after acquiring an additional 541 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in ATI by 0.9% in the fourth quarter. Yousif Capital Management LLC now owns 64,390 shares of the basic materials company’s stock worth $2,928,000 after acquiring an additional 568 shares during the period.

ATI Price Performance

ATI opened at $53.95 on Tuesday. The stock has a 50-day moving average price of $57.17 and a 200-day moving average price of $49.76. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.81 and a quick ratio of 1.37. The firm has a market cap of $6.71 billion, a PE ratio of 21.67, a P/E/G ratio of 1.38 and a beta of 1.12. ATI Inc. has a 1 year low of $35.03 and a 1 year high of $62.44.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. ATI’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. Sell-side analysts predict that ATI Inc. will post 2.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ATI. KeyCorp raised their price target on ATI from $58.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Northcoast Research cut shares of ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. Barclays boosted their target price on shares of ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of ATI in a report on Thursday, April 11th. They set a “buy” rating and a $70.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.60.

ATI Company 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.