JPMorgan Chase & Co. Sells 345,818 Shares of ATI Inc. (NYSE:ATI)

JPMorgan Chase & Co. lessened its stake in shares of ATI Inc. (NYSE:ATI) by 55.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 283,260 shares of the basic materials company’s stock after selling 345,818 shares during the period. JPMorgan Chase & Co. owned 0.20% of ATI worth $18,953,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Quest Partners LLC acquired a new position in ATI in the 2nd quarter valued at $88,000. Choreo LLC bought a new stake in ATI during the second quarter valued at about $343,000. Texas Permanent School Fund Corp grew its position in shares of ATI by 9.7% in the second quarter. Texas Permanent School Fund Corp now owns 122,528 shares of the basic materials company’s stock valued at $6,794,000 after purchasing an additional 10,874 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of ATI in the second quarter worth about $455,000. Finally, Federated Hermes Inc. lifted its position in shares of ATI by 4.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company’s stock worth $94,412,000 after purchasing an additional 70,812 shares during the last quarter.

ATI Trading Up 0.2 %

Shares of ATI stock opened at $55.61 on Friday. The firm has a fifty day moving average of $56.93 and a 200-day moving average of $60.08. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 1.95 and a beta of 1.12. ATI Inc. has a 52-week low of $38.04 and a 52-week high of $68.92. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the business earned $0.55 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts forecast that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. StockNews.com lowered shares of ATI from a “hold” rating to a “sell” rating in a research report on Thursday. Susquehanna reduced their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.71.

Insider Activity at ATI

In other news, SVP Tina Killough Busch sold 2,598 shares of the business’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 transaction, the senior vice president now directly owns 21,553 shares of the company’s stock, valued at $1,293,611.06. The trade was a 10.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total value of $1,474,750.00. Following the sale, 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. Insiders have sold a total of 52,598 shares of company stock valued at $3,186,432 in the last 90 days. 0.71% of the stock is owned by corporate insiders.

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.