Everence Capital Management Inc. Sells 12,160 Shares of ATI Inc. (NYSE:ATI)

Everence Capital Management Inc. lessened its position in ATI Inc. (NYSE:ATI) by 60.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,120 shares of the basic materials company’s stock after selling 12,160 shares during the quarter. Everence Capital Management Inc.’s holdings in ATI were worth $447,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of ATI during the 2nd quarter valued at about $26,000. UMB Bank n.a. raised its stake in shares of ATI by 557.0% during the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 791 shares in the last quarter. Quest Partners LLC bought a new stake in shares of ATI in the 2nd quarter worth approximately $88,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of ATI in the 2nd quarter valued at $217,000. Finally, GAMMA Investing LLC grew its holdings in shares of ATI by 66.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 1,330 shares during the last quarter.

Analyst Ratings Changes

ATI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Susquehanna decreased 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. Finally, StockNews.com raised ATI from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.71.

Insider Activity at ATI

In other ATI news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total transaction 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 approximately $1,293,611.06. This trade represents a 10.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the completion of the transaction, the chairman now directly owns 436,443 shares of the company’s stock, valued at $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 sold a total of 52,598 shares of company stock valued at $3,186,432 in the last 90 days. Corporate insiders own 0.71% of the company’s stock.

ATI Stock Performance

Shares of ATI stock opened at $56.11 on Monday. The business has a fifty day simple moving average of $57.00 and a two-hundred day simple moving average of $60.12. The firm has a market capitalization of $8.00 billion, a P/E ratio of 21.58, a P/E/G ratio of 1.95 and a beta of 1.09. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. ATI Inc. has a 12 month low of $38.04 and a 12 month high of $68.92.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $0.55 EPS. The company’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

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.