The Manufacturers Life Insurance Company Lowers Stock Holdings in ATI Inc. $ATI

The Manufacturers Life Insurance Company cut its holdings in shares of ATI Inc. (NYSE:ATI) by 25.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,568 shares of the basic materials company’s stock after selling 24,167 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of ATI worth $10,119,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bank of Nova Scotia boosted its position in ATI by 92.9% in the 1st quarter. Bank of Nova Scotia now owns 467,149 shares of the basic materials company’s stock valued at $67,951,000 after buying an additional 224,949 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of ATI by 456.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 129,617 shares of the basic materials company’s stock worth $14,875,000 after acquiring an additional 106,343 shares during the period. Precision Wealth Strategies LLC acquired a new stake in shares of ATI in the first quarter valued at $1,009,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of ATI in the first quarter valued at $4,599,000. Finally, Illinois Municipal Retirement Fund purchased a new position in ATI in the first quarter valued at $1,106,000.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wall Street Zen cut ATI from a “buy” rating to a “hold” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. lifted their price objective on ATI from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $194.00 price objective on shares of ATI in a research report on Friday, May 1st. Weiss Ratings raised shares of ATI from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 9th. Finally, TD Cowen lifted their price target on shares of ATI from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $187.62.

ATI Stock Up 3.1%

ATI stock opened at $193.25 on Tuesday. The stock has a market cap of $26.37 billion, a PE ratio of 63.99, a P/E/G ratio of 1.49 and a beta of 0.98. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.67 and a quick ratio of 1.17. The stock’s fifty day moving average is $188.96 and its two-hundred day moving average is $162.23. ATI Inc. has a 1-year low of $70.42 and a 1-year high of $205.31.

Insider Activity at ATI

In related news, CEO Kimberly A. Fields sold 59,749 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $179.07, for a total transaction of $10,699,253.43. Following the completion of the sale, the chief executive officer owned 218,014 shares in the company, valued at $39,039,766.98. The trade was a 21.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 192,199 shares of company stock valued at $34,601,100. Corporate insiders own 0.98% of the company’s stock.

About ATI

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.