ARK Investment Management LLC lowered its position in shares of ATI Inc. (NYSE:ATI – Get Rating) by 44.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,311 shares of the basic materials company’s stock after selling 7,510 shares during the period. ARK Investment Management LLC’s holdings in ATI were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in ATI. Cornerstone Advisory LLC bought a new position in shares of ATI during the fourth quarter worth approximately $32,000. FNY Investment Advisers LLC grew its position in ATI by 1,460.0% during the first quarter. FNY Investment Advisers LLC now owns 1,560 shares of the basic materials company’s stock worth $41,000 after buying an additional 1,460 shares in the last quarter. National Bank of Canada FI grew its position in ATI by 2,264.0% during the first quarter. National Bank of Canada FI now owns 2,364 shares of the basic materials company’s stock worth $63,000 after buying an additional 2,264 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in ATI during the first quarter worth approximately $99,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in ATI during the first quarter worth approximately $110,000.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on ATI shares. Wolfe Research raised ATI from a “peer perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a research report on Friday, August 5th. Benchmark increased their price target on ATI to $37.00 in a research report on Tuesday, August 9th. Finally, KeyCorp increased their price target on ATI from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. One analyst has rated the stock with a hold rating and seven have issued 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 $30.14.
ATI Trading Up 4.0 %
ATI (NYSE:ATI – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.17. ATI had a return on equity of 21.63% and a net margin of 0.36%. The company had revenue of $959.50 million for the quarter, compared to the consensus estimate of $837.33 million. During the same quarter last year, the business posted ($0.12) EPS. ATI’s revenue for the quarter was up 55.7% on a year-over-year basis. Equities analysts predict that ATI Inc. will post 2.02 EPS for the current fiscal year.
Insider Activity at ATI
In related news, Director James C. Diggs sold 12,500 shares of the firm’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $24.00, for a total transaction of $300,000.00. Following the sale, the director now owns 46,060 shares of the company’s stock, valued at approximately $1,105,440. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Karl D. Schwartz sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $31.22, for a total transaction of $31,220.00. Following the completion of the transaction, the chief accounting officer now directly owns 63,833 shares of the company’s stock, valued at approximately $1,992,866.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James C. Diggs sold 12,500 shares of the firm’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $24.00, for a total value of $300,000.00. Following the transaction, the director now directly owns 46,060 shares of the company’s stock, valued at $1,105,440. The disclosure for this sale can be found here. Insiders have sold a total of 16,500 shares of company stock valued at $412,540 in the last 90 days. 0.82% of the stock is owned by corporate insiders.
ATI Company Profile
ATI Inc manufactures and sells specialty materials and components worldwide. The company 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, 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.
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