Neuberger Berman Group LLC Boosts Stock Position in ATI Inc. (NYSE:ATI)

Neuberger Berman Group LLC lifted its holdings in ATI Inc. (NYSE:ATI) by 35.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,132,296 shares of the basic materials company’s stock after purchasing an additional 296,634 shares during the quarter. Neuberger Berman Group LLC owned 0.80% of ATI worth $58,913,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ATI. Operose Advisors LLC purchased a new position in ATI during the first quarter worth $145,000. Entropy Technologies LP purchased a new position in ATI during the first quarter worth $885,000. Invesco Ltd. boosted its stake in ATI by 3.3% during the first quarter. Invesco Ltd. now owns 4,850,439 shares of the basic materials company’s stock worth $252,368,000 after buying an additional 153,939 shares during the period. Swiss National Bank boosted its stake in ATI by 12.9% during the first quarter. Swiss National Bank now owns 276,300 shares of the basic materials company’s stock worth $14,376,000 after buying an additional 31,500 shares during the period. Finally, CenterBook Partners LP boosted its stake in ATI by 338.1% during the first quarter. CenterBook Partners LP now owns 17,791 shares of the basic materials company’s stock worth $926,000 after buying an additional 13,730 shares during the period.

Insider Buying and Selling

In other news, Director David J. Morehouse sold 7,900 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.81, for a total transaction of $598,899.00. Following the completion of the transaction, the director directly owned 44,777 shares of the company’s stock, valued at $3,394,544.37. This represents a 15.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Robert S. Wetherbee sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $74.66, for a total value of $3,733,000.00. Following the transaction, the chairman directly owned 306,538 shares of the company’s stock, valued at approximately $22,886,127.08. The trade was a 14.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 203,259 shares of company stock valued at $16,026,385 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

ATI Price Performance

Shares of NYSE ATI opened at $75.36 on Thursday. The business’s 50 day moving average price is $85.07 and its 200 day moving average price is $68.24. The firm has a market cap of $10.39 billion, a P/E ratio of 26.17, a P/E/G ratio of 1.03 and a beta of 1.20. ATI Inc. has a 52 week low of $39.23 and a 52 week high of $96.20. The company has a quick ratio of 1.20, a current ratio of 2.52 and a debt-to-equity ratio of 0.92.

ATI (NYSE:ATI) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. ATI had a return on equity of 21.34% and a net margin of 9.26%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $0.60 earnings per share. ATI’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, sell-side analysts expect that ATI Inc. will post 2.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ATI has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $115.00 target price on ATI and gave the stock a “hold” rating in a research report on Tuesday, July 8th. Citigroup upgraded ATI to a “positive” rating in a research report on Tuesday, May 20th. Benchmark reiterated a “buy” rating and set a $81.00 target price on shares of ATI in a research report on Monday, April 21st. Barclays lifted their target price on ATI from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Finally, KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.29.

ATI 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.