Kennedy Capital Management LLC Sells 46,267 Shares of ATI Inc. (NYSE:ATI)

Kennedy Capital Management LLC trimmed its holdings in ATI Inc. (NYSE:ATI) by 16.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,845 shares of the basic materials company’s stock after selling 46,267 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.18% of ATI worth $11,710,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in ATI by 0.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock worth $3,822,000 after purchasing an additional 216 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of ATI by 3.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock worth $364,000 after acquiring an additional 224 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of ATI by 4.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock worth $299,000 after acquiring an additional 239 shares in the last quarter. Nvwm LLC raised its holdings in shares of ATI by 2.1% during the 1st quarter. Nvwm LLC now owns 16,177 shares of the basic materials company’s stock worth $828,000 after acquiring an additional 334 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of ATI by 2.0% during the 4th quarter. Raymond James & Associates now owns 27,585 shares of the basic materials company’s stock worth $1,254,000 after acquiring an additional 529 shares in the last quarter.

ATI Trading Up 1.1 %

ATI stock traded up $0.71 during midday trading on Tuesday, reaching $65.57. The company’s stock had a trading volume of 1,286,887 shares, compared to its average volume of 1,475,107. ATI Inc. has a 1 year low of $35.03 and a 1 year high of $66.43. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.37 and a current ratio of 2.81. The stock has a fifty day simple moving average of $58.51 and a two-hundred day simple moving average of $52.44. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.64 and a beta of 1.07.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. ATI had a return on equity of 23.72% and a net margin of 8.70%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The business’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts predict that ATI Inc. will post 2.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ATI. Barclays upped their price objective on ATI from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Benchmark increased their price target on ATI from $56.00 to $80.00 and gave the company a “buy” rating in a report on Friday, July 12th. KeyCorp increased their price target on ATI from $58.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Northcoast Research lowered ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on ATI in a report on Thursday, April 11th. They set a “buy” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.20.

About ATI

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.