ATI Inc. (NYSE:ATI) Shares Purchased by Algert Global LLC

Algert Global LLC lifted its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 197.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,632 shares of the basic materials company's stock after buying an additional 48,220 shares during the quarter. Algert Global LLC owned approximately 0.05% of ATI worth $4,860,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Quarry LP acquired a new position in ATI during the second quarter worth $26,000. UMB Bank n.a. raised its position in shares of ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company's stock worth $62,000 after purchasing an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company's stock valued at $69,000 after buying an additional 1,010 shares in the last quarter. Quest Partners LLC acquired a new stake in ATI in the 2nd quarter worth about $88,000. Finally, GAMMA Investing LLC increased its stake in ATI by 66.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company's stock worth $224,000 after buying an additional 1,330 shares in the last quarter.

ATI Trading Up 1.4 %

Shares of NYSE ATI traded up $0.85 during midday trading on Monday, reaching $60.15. 1,465,061 shares of the stock were exchanged, compared to its average volume of 1,455,887. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The stock has a market capitalization of $8.58 billion, a P/E ratio of 23.13, a PEG ratio of 2.05 and a beta of 1.08. The company has a 50 day simple moving average of $61.05 and a 200 day simple moving average of $60.59. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94.

ATI (NYSE:ATI - Get Free Report) last posted its earnings results 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). ATI had a return on equity of 21.39% and a net margin of 8.85%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $0.55 EPS. ATI's revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its board has authorized a stock repurchase plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm's stock in a transaction 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. This trade represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.05% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Susquehanna reduced their target price on shares of ATI from $75.00 to $70.00 and set a "positive" rating for the company in a research report on Wednesday, October 30th. Benchmark restated a "buy" rating and set a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.71.

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.