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

JPMorgan Chase & Co. cut its stake in ATI Inc. (NYSE:ATI) by 55.0% in the third quarter, HoldingsChannel reports. The fund owned 283,260 shares of the basic materials company’s stock after selling 345,818 shares during the period. JPMorgan Chase & Co.’s holdings in ATI were worth $18,953,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Mountaineer Partners Management LLC raised its position in ATI by 4,401.2% in the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock worth $629,683,000 after purchasing an additional 9,201,818 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of ATI by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after buying an additional 102,691 shares during the period. Geode Capital Management LLC raised its position in shares of ATI by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock worth $130,709,000 after acquiring an additional 5,165 shares during the last quarter. Millennium Management LLC lifted its stake in shares of ATI by 165.1% during the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock valued at $107,846,000 after acquiring an additional 1,211,273 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of ATI by 4.3% during the second quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company’s stock valued at $94,412,000 after acquiring an additional 70,812 shares during the period.

Insiders Place Their Bets

In related news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total transaction of $155,931.96. Following the sale, the senior vice president now directly owns 21,553 shares in the company, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the transaction, the chairman now directly owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. The trade was a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,598 shares of company stock worth $3,186,432. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

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

ATI Stock Up 0.2 %

ATI stock opened at $55.61 on Friday. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 1.95 and a beta of 1.12. The company’s 50 day simple moving average is $56.93 and its 200 day simple moving average is $60.08. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. 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 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that ATI Inc. will post 2.27 EPS for the current year.

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.