Fisher Asset Management LLC Reduces Stock Position in ATI Inc. (NYSE:ATI)

Fisher Asset Management LLC decreased its holdings in ATI Inc. (NYSE:ATI - Free Report) by 16.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 658,312 shares of the basic materials company's stock after selling 128,425 shares during the quarter. Fisher Asset Management LLC owned about 0.46% of ATI worth $44,048,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC lifted its position in shares of ATI by 202.7% during the 2nd quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company's stock valued at $1,522,000 after acquiring an additional 18,381 shares during the period. First Hawaiian Bank acquired a new position in shares of ATI during the 2nd quarter worth $757,000. Assenagon Asset Management S.A. boosted its position in shares of ATI by 17.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 528,615 shares of the basic materials company's stock worth $29,312,000 after buying an additional 79,285 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in ATI by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company's stock valued at $139,003,000 after acquiring an additional 102,691 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in ATI by 11.0% during the 1st quarter. Jane Street Group LLC now owns 106,237 shares of the basic materials company's stock valued at $5,436,000 after acquiring an additional 10,561 shares in the last quarter.

ATI Stock Up 0.8 %

Shares of NYSE ATI opened at $60.63 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $8.65 billion, a PE ratio of 23.32, a P/E/G ratio of 2.08 and a beta of 1.08. The firm has a fifty day moving average of $61.05 and a 200-day moving average of $60.59. ATI Inc. has a 52-week low of $38.04 and a 52-week high of $68.92.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (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 for the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the firm posted $0.55 EPS. ATI's revenue was up 2.5% on a year-over-year basis. On average, analysts anticipate that ATI Inc. will post 2.27 EPS for the current year.

ATI declared that its Board of Directors has approved a share repurchase program on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the stock. KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. Susquehanna cut their price target on ATI from $75.00 to $70.00 and set a "positive" rating for the company in a report on Wednesday, October 30th. Benchmark reaffirmed a "buy" rating and set a $80.00 price objective on shares of ATI in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.71.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the sale, the chairman now 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 document filed with the SEC, which is available at this hyperlink. 1.05% of the stock is owned by corporate insiders.

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.