Alberta Investment Management Corp Sells 14,155 Shares of ATI Inc. (NYSE:ATI)

Alberta Investment Management Corp cut its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,826 shares of the basic materials company's stock after selling 14,155 shares during the period. Alberta Investment Management Corp owned 0.06% of ATI worth $4,669,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC lifted its position in ATI by 3.3% during the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company's stock worth $360,000 after acquiring an additional 172 shares during the last quarter. CIBC Asset Management Inc lifted its position in ATI by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company's stock worth $215,000 after acquiring an additional 192 shares during the last quarter. Hantz Financial Services Inc. lifted its position in ATI by 2.1% during the fourth quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company's stock worth $643,000 after acquiring an additional 240 shares during the last quarter. KBC Group NV lifted its position in ATI by 12.9% during the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company's stock worth $225,000 after acquiring an additional 385 shares during the last quarter. Finally, Souders Financial Advisors lifted its position in ATI by 6.1% during the third quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company's stock worth $477,000 after acquiring an additional 411 shares during the last quarter.

ATI Price Performance

Shares of NYSE ATI traded down $2.96 during midday trading on Friday, reaching $57.95. 1,150,693 shares of the company were exchanged, compared to its average volume of 1,728,107. The stock's 50-day moving average price is $57.90 and its 200-day moving average price is $60.04. The stock has a market cap of $8.27 billion, a P/E ratio of 22.73, a PEG ratio of 0.90 and a beta of 1.10. ATI Inc. has a one year low of $45.61 and a one year high of $68.92. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88.

ATI (NYSE:ATI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.19. The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The company's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, sell-side analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ATI shares. Benchmark lifted their price target on shares of ATI from $80.00 to $81.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Susquehanna lifted their price target on shares of ATI from $70.00 to $73.00 and gave the company a "positive" rating in a research report on Wednesday, February 5th. Barclays lifted their price target on shares of ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, StockNews.com upgraded shares of ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $75.00.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the business's stock in a transaction on 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 sale, the chairman now owns 436,443 shares of the company's stock, valued at $25,745,772.57. The trade was a 5.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Tina Killough Busch sold 2,598 shares of the company'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 position. The disclosure for this sale can be found here. Insiders have sold a total of 37,498 shares of company stock valued at $2,288,141 over the last 90 days. 0.71% of the stock is owned by insiders.

ATI Company 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.