The Manufacturers Life Insurance Company Trims Stock Position in ATI Inc. $ATI

The Manufacturers Life Insurance Company lessened its stake in ATI Inc. (NYSE:ATI) by 25.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,568 shares of the basic materials company’s stock after selling 24,167 shares during the period. The Manufacturers Life Insurance Company’s holdings in ATI were worth $10,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in shares of ATI by 7.4% during the third quarter. State Street Corp now owns 6,042,244 shares of the basic materials company’s stock worth $491,476,000 after purchasing an additional 415,479 shares in the last quarter. Capital Research Global Investors boosted its position in shares of ATI by 12.0% in the 4th quarter. Capital Research Global Investors now owns 3,611,724 shares of the basic materials company’s stock valued at $414,481,000 after purchasing an additional 386,754 shares during the period. Invesco Ltd. grew its stake in ATI by 7.4% during the 4th quarter. Invesco Ltd. now owns 3,384,924 shares of the basic materials company’s stock worth $388,454,000 after buying an additional 233,010 shares during the last quarter. Norges Bank purchased a new position in ATI during the 4th quarter worth approximately $198,787,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in ATI by 231.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company’s stock valued at $175,094,000 after buying an additional 840,455 shares during the last quarter.

Insider Buying and Selling at ATI

In other news, CEO Kimberly A. Fields sold 59,749 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $179.07, for a total value of $10,699,253.43. Following the completion of the transaction, the chief executive officer directly owned 218,014 shares of the company’s stock, valued at $39,039,766.98. The trade was a 21.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 192,199 shares of company stock valued at $34,601,100 over the last ninety days. Insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. TD Cowen increased their price objective on ATI from $170.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 13th. BTIG Research upped their price target on shares of ATI from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Zacks Research upgraded shares of ATI from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 25th. KeyCorp raised their price objective on shares of ATI from $175.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Finally, Susquehanna lifted their price objective on shares of ATI from $185.00 to $215.00 and gave the company a “positive” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to data from MarketBeat, ATI has an average rating of “Buy” and a consensus target price of $187.62.

ATI Price Performance

Shares of NYSE:ATI opened at $193.25 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 2.67 and a debt-to-equity ratio of 0.95. The company has a market cap of $26.37 billion, a P/E ratio of 63.99, a PEG ratio of 1.49 and a beta of 0.98. ATI Inc. has a 52 week low of $70.42 and a 52 week high of $205.31. The company has a 50-day moving average price of $188.96 and a 200 day moving average price of $162.23.

About ATI

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.