ATI Inc. (NYSE:ATI) Stake Lowered by Shelton Capital Management

Shelton Capital Management decreased its stake in ATI Inc. (NYSE:ATI) by 4.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,050 shares of the basic materials company’s stock after selling 323 shares during the period. Shelton Capital Management’s holdings in ATI were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ATI. Belpointe Asset Management LLC boosted its holdings in shares of ATI by 65.3% during the first quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 333 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in ATI during the 1st quarter valued at about $37,000. Archer Investment Corp acquired a new position in ATI during the 1st quarter valued at about $98,000. Point72 Middle East FZE acquired a new stake in shares of ATI in the fourth quarter valued at approximately $75,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of ATI by 322.5% during the first quarter. Tower Research Capital LLC TRC now owns 3,190 shares of the basic materials company’s stock valued at $126,000 after buying an additional 2,435 shares during the last quarter.

Insider Activity

In related news, Director James C. Diggs sold 2,674 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $44.90, for a total value of $120,062.60. Following the sale, the director now directly owns 46,591 shares in the company, valued at approximately $2,091,935.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

ATI has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on ATI in a report on Thursday, October 5th. They issued a “hold” rating for the company. KeyCorp lowered their price target on ATI from $49.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. Finally, Barclays upped their price objective on shares of ATI from $42.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.17.

ATI Trading Up 0.5 %

Shares of ATI stock opened at $44.59 on Tuesday. The stock has a 50-day simple moving average of $40.98 and a 200 day simple moving average of $41.58. The stock has a market capitalization of $5.69 billion, a P/E ratio of 21.75 and a beta of 1.27. ATI Inc. has a fifty-two week low of $27.97 and a fifty-two week high of $47.92. The company has a quick ratio of 1.50, a current ratio of 3.13 and a debt-to-equity ratio of 1.58.

ATI Company Profile

ATI Inc manufactures and sells specialty materials and 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, 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.