Neuberger Berman Group LLC Sells 92,362 Shares of ATI Inc. (NYSE:ATI)

Neuberger Berman Group LLC decreased its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 835,662 shares of the basic materials company's stock after selling 92,362 shares during the quarter. Neuberger Berman Group LLC owned about 0.59% of ATI worth $45,995,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ATI. CIBC Asset Management Inc grew its stake in ATI by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company's stock worth $215,000 after buying an additional 192 shares during the last quarter. Pier 88 Investment Partners LLC increased its stake in ATI by 3.0% in the 4th quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company's stock valued at $419,000 after purchasing an additional 220 shares in the last quarter. Hantz Financial Services Inc. grew its stake in ATI by 2.1% in the 4th quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company's stock valued at $643,000 after acquiring an additional 240 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of ATI by 20.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company's stock worth $95,000 after purchasing an additional 288 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of ATI by 0.8% during the fourth quarter. Arizona State Retirement System now owns 36,122 shares of the basic materials company's stock worth $1,988,000 after buying an additional 289 shares in the last quarter.

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Wall Street Analyst Weigh In

A number of research analysts have recently commented on ATI shares. StockNews.com raised shares of ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Barclays upped their price objective on shares of ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Benchmark upped their price target on shares of ATI from $80.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Susquehanna upped 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

Insider Transactions at ATI

In related news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was 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 of the company's stock, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.71% of the company's stock.

ATI Stock Performance

Shares of NYSE ATI traded down $0.40 during midday trading on Tuesday, hitting $47.23. 1,199,781 shares of the company's stock were exchanged, compared to its average volume of 1,665,392. The firm has a market capitalization of $6.66 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 0.85 and a beta of 0.80. The company's 50 day moving average price is $54.06 and its 200 day moving average price is $57.02. ATI Inc. has a 12 month low of $39.23 and a 12 month 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 released its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.19. The business had revenue of $1.17 billion during 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 firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. As a group, analysts predict that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

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.