CANADA LIFE ASSURANCE Co Trims Stock Position in ATI Inc. (NYSE:ATI)

CANADA LIFE ASSURANCE Co decreased its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 134,994 shares of the basic materials company's stock after selling 11,519 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.09% of ATI worth $7,430,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in ATI. Vanguard Group Inc. grew its stake in ATI by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company's stock worth $844,061,000 after buying an additional 2,020,313 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of ATI by 4.5% in the fourth quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company's stock valued at $258,495,000 after acquiring an additional 203,742 shares during the period. Geode Capital Management LLC grew its position in shares of ATI by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 2,150,204 shares of the basic materials company's stock worth $118,389,000 after acquiring an additional 197,270 shares during the last quarter. Channing Capital Management LLC increased its holdings in shares of ATI by 15.7% in the 4th quarter. Channing Capital Management LLC now owns 1,674,461 shares of the basic materials company's stock valued at $92,162,000 after acquiring an additional 226,977 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in ATI by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company's stock valued at $86,031,000 after purchasing an additional 191,823 shares during the last quarter.

Wall Street Analysts Forecast Growth

ATI has been the topic of a number of recent research reports. Susquehanna lifted their price objective on shares of ATI from $70.00 to $73.00 and gave the company a "positive" rating in a research note on Wednesday, February 5th. Barclays boosted their price target on ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. StockNews.com raised ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Benchmark reissued a "buy" rating and issued a $81.00 target price on shares of ATI in a report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

Insider Buying and Selling

In other news, SVP Tina Killough Busch sold 9,900 shares of ATI stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total transaction of $657,459.00. Following the completion of the sale, the senior vice president now directly owns 25,994 shares in the company, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

ATI Stock Performance

Shares of ATI stock opened at $45.63 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 12-month low of $39.23 and a 12-month high of $68.92. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 0.85 and a beta of 0.80. The stock has a 50 day simple moving average of $52.07 and a 200-day simple moving average of $56.25.

ATI (NYSE:ATI - Get Free Report) last released its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $0.64 earnings per share. ATI's quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts forecast that ATI Inc. will post 2.89 EPS for the current 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.

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