Van ECK Associates Corp Sells 46,647 Shares of ATI Inc. (NYSE:ATI)

Van ECK Associates Corp decreased its holdings in shares of ATI Inc. (NYSE:ATI) by 32.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,403 shares of the basic materials company’s stock after selling 46,647 shares during the period. Van ECK Associates Corp owned approximately 0.08% of ATI worth $4,933,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ATI. Benjamin F. Edwards & Company Inc. bought a new stake in ATI during the first quarter valued at $51,000. GAMMA Investing LLC purchased a new stake in ATI during the fourth quarter valued at about $58,000. Edmond DE Rothschild Holding S.A. raised its position in ATI by 211.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock valued at $121,000 after purchasing an additional 1,800 shares in the last quarter. Quest Partners LLC purchased a new stake in ATI during the fourth quarter valued at about $174,000. Finally, TFO Wealth Partners LLC raised its position in ATI by 103,225.0% during the fourth quarter. TFO Wealth Partners LLC now owns 4,133 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 4,129 shares in the last quarter.

ATI Trading Down 2.2 %

NYSE:ATI traded down $1.28 during mid-day trading on Friday, reaching $56.15. 428,200 shares of the company’s stock traded hands, compared to its average volume of 1,523,127. The company has a 50 day moving average price of $58.11 and a 200-day moving average price of $50.46. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.81 and a quick ratio of 1.37. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.45 and a beta of 1.07. ATI Inc. has a 12-month low of $35.03 and a 12-month high of $62.44.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. On average, sell-side analysts predict that ATI Inc. will post 2.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BTIG Research assumed coverage on ATI in a research report on Wednesday, June 26th. They set a “buy” rating and a $70.00 price target on the stock. Barclays raised their price target on ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Northcoast Research downgraded ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. Deutsche Bank Aktiengesellschaft initiated coverage on ATI in a report on Thursday, April 11th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, KeyCorp lifted their price objective on ATI from $58.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $63.83.

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.