Advisors Asset Management Inc. Boosts Stake in ATI Inc. (NYSE:ATI)

Advisors Asset Management Inc. raised its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 16.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 77,022 shares of the basic materials company's stock after acquiring an additional 11,154 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.05% of ATI worth $5,154,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in ATI by 0.9% during the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company's stock worth $733,720,000 after purchasing an additional 132,478 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in ATI by 3.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company's stock valued at $364,000 after acquiring an additional 224 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in ATI by 20.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 126,978 shares of the basic materials company's stock valued at $6,496,000 after acquiring an additional 21,887 shares during the last quarter. Capital World Investors boosted its stake in ATI by 43.9% in the first quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company's stock valued at $145,372,000 after acquiring an additional 866,310 shares in the last quarter. Finally, Appian Way Asset Management LP grew its holdings in shares of ATI by 57.6% during the first quarter. Appian Way Asset Management LP now owns 172,408 shares of the basic materials company's stock worth $8,822,000 after purchasing an additional 63,008 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ATI. Deutsche Bank Aktiengesellschaft boosted their target price on ATI from $81.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised their target price on shares of ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. Susquehanna lowered their price objective on shares of ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research report on Wednesday, October 30th. Finally, Benchmark reaffirmed a "buy" rating and issued a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $73.71.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the transaction, the chairman now directly owns 486,443 shares in the company, valued at $30,271,347.89. The trade was a 4.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.71% of the company's stock.

ATI Price Performance

ATI stock traded up $1.14 during mid-day trading on Friday, reaching $59.30. The company had a trading volume of 1,056,858 shares, compared to its average volume of 1,455,821. The stock's 50-day simple moving average is $61.13 and its 200-day simple moving average is $60.59. ATI Inc. has a 1 year low of $38.04 and a 1 year high of $68.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The company has a market capitalization of $8.46 billion, a P/E ratio of 22.27, a P/E/G ratio of 2.01 and a beta of 1.08.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.06). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. On average, equities analysts predict that ATI Inc. will post 2.27 EPS for the current year.

ATI announced that its board has approved a share repurchase plan on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

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.