GAMMA Investing LLC Sells 845 Shares of ATI Inc. (NYSE:ATI)

GAMMA Investing LLC cut its holdings in ATI Inc. (NYSE:ATI) by 25.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,499 shares of the basic materials company’s stock after selling 845 shares during the period. GAMMA Investing LLC’s holdings in ATI were worth $138,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ATI. Dimensional Fund Advisors LP boosted its position in ATI by 4.3% during 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. Hantz Financial Services Inc. purchased a new stake in shares of ATI during the third quarter worth about $765,000. Franklin Resources Inc. grew its stake in shares of ATI by 16.2% in the third quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock worth $27,993,000 after purchasing an additional 61,999 shares during the last quarter. WINTON GROUP Ltd increased its holdings in ATI by 138.1% during the 2nd quarter. WINTON GROUP Ltd now owns 32,485 shares of the basic materials company’s stock valued at $1,801,000 after purchasing an additional 18,842 shares during the period. Finally, Renaissance Technologies LLC raised its position in ATI by 32.9% during the 2nd quarter. Renaissance Technologies LLC now owns 180,192 shares of the basic materials company’s stock valued at $9,992,000 after purchasing an additional 44,600 shares during the last quarter.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the transaction, the chairman now directly owns 436,443 shares in the company, valued at approximately $25,745,772.57. This represents a 5.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Tina Killough Busch sold 2,598 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the completion of the transaction, the senior vice president now owns 21,553 shares in the company, valued at $1,293,611.06. This represents a 10.76 % 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 worth $3,186,432 over the last three months. 0.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ATI shares. Susquehanna cut their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, StockNews.com downgraded ATI from a “hold” rating to a “sell” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $73.71.

ATI Stock Performance

Shares of NYSE ATI opened at $55.61 on Friday. The company has a market cap of $7.93 billion, a P/E 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. The firm’s fifty day moving average is $56.93 and its two-hundred day moving average is $60.08.

ATI (NYSE:ATI) last posted its 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). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. As a group, analysts anticipate that ATI Inc. will post 2.27 EPS for the current fiscal year.

About ATI

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.