Bank of Montreal Can Increases Stake in ATI Inc. (NYSE:ATI)

Bank of Montreal Can increased its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 38.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,254 shares of the basic materials company's stock after acquiring an additional 43,648 shares during the quarter. Bank of Montreal Can owned approximately 0.11% of ATI worth $10,421,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ATI. Millennium Management LLC raised its holdings in shares of ATI by 165.1% in the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company's stock valued at $107,846,000 after purchasing an additional 1,211,273 shares during the last quarter. Senator Investment Group LP raised its holdings in shares of ATI by 167.6% in the second quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company's stock valued at $49,414,000 after purchasing an additional 558,138 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of ATI in the second quarter valued at about $28,896,000. Cubist Systematic Strategies LLC purchased a new stake in ATI during the second quarter worth about $15,869,000. Finally, Squarepoint Ops LLC increased its holdings in ATI by 739.2% during the second quarter. Squarepoint Ops LLC now owns 308,355 shares of the basic materials company's stock worth $17,098,000 after buying an additional 271,613 shares during the last quarter.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the transaction, the chairman now owns 486,443 shares of the company's stock, valued at $30,271,347.89. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

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

ATI Price Performance

Shares of ATI stock traded down $0.57 during trading hours on Monday, reaching $59.60. The stock had a trading volume of 238,089 shares, compared to its average volume of 1,441,358. The stock's fifty day simple moving average is $60.82 and its 200 day simple moving average is $60.58. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. ATI Inc. has a 12 month low of $38.04 and a 12 month high of $68.92. The firm has a market capitalization of $8.50 billion, a PE ratio of 23.13, a PEG ratio of 2.08 and a beta of 1.08.

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

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

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.