American International Group Inc. Sells 578 Shares of ATI Inc. (NYSE:ATI)

Posted by on Jun 6th, 2023

American International Group Inc. trimmed its holdings in shares of ATI Inc. (NYSE:ATI – Get Rating) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,842 shares of the basic materials company’s stock after selling 578 shares during the quarter. American International Group Inc. owned about 0.05% of ATI worth $2,026,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ATI. State Street Corp increased its stake in ATI by 14.8% in the 1st quarter. State Street Corp now owns 9,941,032 shares of the basic materials company’s stock worth $266,817,000 after acquiring an additional 1,279,827 shares during the last quarter. Invesco Ltd. increased its stake in ATI by 105.4% in the 1st quarter. Invesco Ltd. now owns 1,181,206 shares of the basic materials company’s stock worth $31,703,000 after acquiring an additional 606,005 shares during the last quarter. Balyasny Asset Management LLC increased its stake in ATI by 3,539.9% in the 3rd quarter. Balyasny Asset Management LLC now owns 619,116 shares of the basic materials company’s stock worth $16,475,000 after acquiring an additional 602,107 shares during the last quarter. Vanguard Group Inc. increased its stake in ATI by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 14,354,401 shares of the basic materials company’s stock worth $381,970,000 after acquiring an additional 527,117 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in ATI in the 1st quarter worth about $12,302,000.

ATI Price Performance

ATI opened at $37.49 on Tuesday. The stock’s 50 day simple moving average is $37.46 and its 200 day simple moving average is $35.85. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.81 and a quick ratio of 1.24. ATI Inc. has a 1 year low of $20.51 and a 1 year high of $43.32. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 33.47 and a beta of 1.19.

ATI (NYSE:ATI – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. ATI had a return on equity of 28.75% and a net margin of 4.21%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $0.40 EPS. ATI’s revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, analysts predict that ATI Inc. will post 2.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ATI shares. StockNews.com started coverage on ATI in a research report on Thursday, May 18th. They set a “hold” rating on the stock. KeyCorp increased their price objective on ATI from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, March 7th. Cowen increased their price objective on ATI from $37.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, February 6th. JPMorgan Chase & Co. increased their price objective on ATI from $45.00 to $50.00 in a research report on Monday, May 8th. Finally, Barclays increased their price objective on ATI from $33.00 to $42.00 in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

ATI Company Profile

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ATI, Inc engages in the manufacture of specialty materials and components. It operates through the High Performance Materials and Components (HPMC) and Advanced Alloys & Solutions (AA&S) segments. The HPMC segment consists of the production of materials, parts, and components for aerospace and defense, medical, and energy markets.

See Also

Institutional Ownership by Quarter for ATI (NYSE:ATI)

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