Los Angeles Capital Management LLC Sells 169,192 Shares of ATI Inc. (NYSE:ATI)

Los Angeles Capital Management LLC reduced its position in ATI Inc. (NYSE:ATI - Free Report) by 79.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,529 shares of the basic materials company's stock after selling 169,192 shares during the period. Los Angeles Capital Management LLC's holdings in ATI were worth $2,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ATI. Quarry LP purchased a new stake in ATI during the 2nd quarter worth approximately $26,000. UMB Bank n.a. increased its holdings in 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 increased its holdings in shares of 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 acquiring an additional 1,010 shares during the last quarter. Quest Partners LLC bought a new stake in shares of ATI in the 2nd quarter valued at approximately $88,000. Finally, nVerses Capital LLC bought a new stake in shares of ATI in the 2nd quarter valued at approximately $205,000.

Analysts Set New Price Targets

ATI has been the subject of a number of research analyst reports. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Benchmark reaffirmed a "buy" rating and issued a $80.00 target price on shares of ATI in a research report on Wednesday, August 7th. Susquehanna dropped their target price on ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their target price on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their target price on ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, ATI presently has an average rating of "Moderate Buy" and an average price target of $73.71.

Insider Buying and Selling at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the company's stock in a transaction dated 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 sale, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.71% of the company's stock.

ATI Stock Performance

ATI traded down $0.38 during midday trading on Wednesday, reaching $58.38. The company's stock had a trading volume of 1,296,558 shares, compared to its average volume of 1,467,403. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The stock has a market cap of $8.33 billion, a P/E ratio of 22.45, a PEG ratio of 2.03 and a beta of 1.08. The company has a fifty day simple moving average of $61.47 and a 200 day simple moving average of $60.61. 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 (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 business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. Research analysts expect that ATI Inc. will post 2.27 earnings per share for the current year.

ATI announced that its Board of Directors has initiated a share buyback program 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 reacquire up to 9.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

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.