Mirae Asset Global Investments Co. Ltd. Cuts Holdings in ATI Inc. (NYSE:ATI)

Mirae Asset Global Investments Co. Ltd. decreased its position in ATI Inc. (NYSE:ATI) by 2.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 946,566 shares of the basic materials company’s stock after selling 27,962 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ATI were worth $43,040,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC increased its stake in shares of ATI by 4.1% during the third quarter. Evergreen Capital Management LLC now owns 6,582 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 258 shares in the last quarter. Inspire Investing LLC increased its stake in shares of ATI by 4.1% during the third quarter. Inspire Investing LLC now owns 7,409 shares of the basic materials company’s stock worth $305,000 after purchasing an additional 291 shares in the last quarter. Belpointe Asset Management LLC grew its stake in ATI by 65.3% during the 1st 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 in the last quarter. Guidance Capital Inc. grew its stake in ATI by 6.4% during the 3rd quarter. Guidance Capital Inc. now owns 6,343 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 382 shares in the last quarter. Finally, Covestor Ltd grew its stake in ATI by 73.1% during the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 441 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. TheStreet raised shares of ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. KeyCorp boosted their target price on shares of ATI from $49.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, ATI presently has an average rating of “Moderate Buy” and an average target price of $52.80.

Insider Transactions at ATI

In other ATI news, VP Timothy J. Harris sold 6,325 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.44, for a total transaction of $268,433.00. Following the sale, the vice president now directly owns 109,331 shares in the company, valued at approximately $4,640,007.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.71% of the company’s stock.

ATI Trading Up 2.4 %

NYSE:ATI traded up $1.23 on Friday, hitting $51.73. The stock had a trading volume of 707,211 shares, compared to its average volume of 1,104,198. The company has a fifty day moving average price of $46.85 and a two-hundred day moving average price of $43.62. The company has a quick ratio of 1.53, a current ratio of 2.80 and a debt-to-equity ratio of 1.45. ATI Inc. has a 1-year low of $34.10 and a 1-year high of $51.95. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 20.61 and a beta of 1.22.

ATI (NYSE:ATI) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. ATI had a net margin of 8.81% and a return on equity of 24.64%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts expect that ATI Inc. will post 2.35 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.