Man Group plc Sells 966 Shares of ATI Inc. (NYSE:ATI)

Man Group plc lowered its holdings in shares of ATI Inc. (NYSE:ATI) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 86,434 shares of the basic materials company’s stock after selling 966 shares during the period. Man Group plc’s holdings in ATI were worth $4,757,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ATI. Capital World Investors grew its holdings in ATI by 100.5% during the fourth quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company’s stock worth $378,432,000 after purchasing an additional 3,446,919 shares during the period. Dendur Capital LP boosted its holdings in shares of ATI by 601.7% during the fourth quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company’s stock worth $196,328,000 after acquiring an additional 3,058,628 shares during the period. Vanguard Group Inc. boosted its holdings in shares of ATI by 15.2% during the fourth quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock worth $844,061,000 after acquiring an additional 2,020,313 shares during the period. Norges Bank bought a new stake in shares of ATI during the fourth quarter worth approximately $85,047,000. Finally, Capital International Investors boosted its holdings in shares of ATI by 5.4% during the fourth quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company’s stock worth $875,190,000 after acquiring an additional 817,182 shares during the period.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the transaction, the chairman now directly owns 506,538 shares in the company, valued at $34,535,760.84. The trade was a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ATI. Citigroup upgraded ATI to a “positive” rating in a report on Tuesday. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. BTIG Research set a $90.00 price objective on ATI and gave the stock a “buy” rating in a report on Monday, May 5th. Benchmark restated a “buy” rating and set a $81.00 price objective on shares of ATI in a report on Monday, April 21st. Finally, Susquehanna boosted their price objective on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $76.14.

ATI Stock Down 0.8%

NYSE ATI opened at $76.00 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $76.74. The company has a 50 day moving average of $55.73 and a 200-day moving average of $56.92. The company has a market cap of $10.72 billion, a price-to-earnings ratio of 29.80, a PEG ratio of 0.85 and a beta of 1.01.

ATI (NYSE:ATI) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. ATI had a net margin of 8.43% and a return on equity of 21.16%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts expect that ATI Inc. will post 2.89 earnings per share for the current fiscal 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.