JPMorgan Chase & Co. Cuts Stock Holdings in ATI Inc. (NYSE:ATI)

JPMorgan Chase & Co. lowered its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 55.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 283,260 shares of the basic materials company's stock after selling 345,818 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.20% of ATI worth $18,953,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of ATI during the 2nd quarter worth approximately $26,000. UMB Bank n.a. grew its holdings in ATI by 557.0% during the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company's stock valued at $62,000 after purchasing an additional 791 shares during the period. Quest Partners LLC purchased a new stake in ATI in the second quarter worth $88,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of ATI in the second quarter valued at $217,000. Finally, GAMMA Investing LLC lifted its position in shares of ATI by 66.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company's stock valued at $224,000 after buying an additional 1,330 shares during the last quarter.

Wall Street Analyst Weigh In

ATI has been the subject of several recent research reports. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Susquehanna cut their price objective on shares of ATI from $75.00 to $70.00 and set a "positive" rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com cut shares of ATI from a "hold" rating to a "sell" rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, ATI currently has a consensus rating of "Hold" and a consensus price target of $73.71.

ATI Price Performance

Shares of ATI stock traded down $0.34 during trading on Friday, hitting $55.24. The stock had a trading volume of 1,166,731 shares, compared to its average volume of 1,331,855. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. ATI Inc. has a 12 month low of $38.04 and a 12 month high of $68.92. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 1.95 and a beta of 1.12. The business's 50-day moving average is $56.93 and its 200 day moving average is $60.08.

ATI (NYSE:ATI - Get Free Report) last announced its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.06). The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. ATI's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, sell-side analysts anticipate that ATI Inc. will post 2.27 earnings per share for the current year.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the sale, the chairman now owns 486,443 shares of the company's stock, valued at $30,271,347.89. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Tina Killough Busch sold 2,598 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following the transaction, the senior vice president now owns 21,553 shares in the company, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,598 shares of company stock valued at $3,186,432 over the last three months. 0.71% of the stock is owned by corporate insiders.

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.