Point72 DIFC Ltd Has $333,000 Stock Holdings in ATI Inc. (NYSE:ATI)

Point72 DIFC Ltd trimmed its position in ATI Inc. (NYSE:ATI - Free Report) by 89.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,983 shares of the basic materials company's stock after selling 40,902 shares during the period. Point72 DIFC Ltd's holdings in ATI were worth $333,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC grew its position in shares of ATI by 202.7% in the 2nd quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company's stock worth $1,522,000 after acquiring an additional 18,381 shares in the last quarter. Friedenthal Financial bought a new stake in ATI during the second quarter valued at $782,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of ATI by 22.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,397 shares of the basic materials company's stock worth $798,000 after purchasing an additional 2,646 shares during the period. Assenagon Asset Management S.A. lifted 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 during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of ATI by 318.6% in the 2nd quarter. Raymond James & Associates now owns 46,050 shares of the basic materials company's stock valued at $2,553,000 after buying an additional 35,048 shares during the period.

ATI Stock Performance

Shares of ATI traded down $0.93 during trading hours on Friday, reaching $57.55. 1,216,955 shares of the company's stock traded hands, compared to its average volume of 1,151,966. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The business's fifty day simple moving average is $60.19 and its two-hundred day simple moving average is $60.53. 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 firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 2.07 and a beta of 1.09.

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

ATI declared that its board has authorized a share buyback plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ATI. 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 report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their price target on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. StockNews.com cut ATI from a "hold" rating to a "sell" rating in a research note on Monday, December 2nd. Finally, Susquehanna lowered their price target 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. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, ATI currently has an average rating of "Hold" and an average price target of $73.71.

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.61, for a total value of $1,540,250.00. Following the sale, the chairman now directly owns 511,443 shares in the company, valued at approximately $31,510,003.23. The trade was a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tina Killough Busch sold 2,598 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total transaction of $155,931.96. Following the completion of the sale, the senior vice president now directly owns 21,553 shares of the company's stock, valued at $1,293,611.06. The trade was a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,598 shares of company stock valued at $4,726,682 over the last quarter. Corporate insiders own 0.71% of the company's stock.

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.