ATI Inc. (NYSE:ATI) Position Decreased by State Street Corp

State Street Corp lessened its position in ATI Inc. (NYSE:ATI - Free Report) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,413,734 shares of the basic materials company's stock after selling 303,287 shares during the period. State Street Corp owned about 3.80% of ATI worth $362,233,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ATI. Sequoia Financial Advisors LLC grew its holdings in ATI by 3.3% in the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company's stock valued at $360,000 after purchasing an additional 172 shares during the period. Beck Capital Management LLC grew its holdings in ATI by 0.8% in the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company's stock valued at $1,898,000 after purchasing an additional 262 shares during the period. KBC Group NV grew its holdings in ATI by 12.9% in the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company's stock valued at $225,000 after purchasing an additional 385 shares during the period. Souders Financial Advisors grew its holdings in ATI by 6.1% in the third quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company's stock valued at $477,000 after purchasing an additional 411 shares during the period. Finally, Quarry LP grew its holdings in ATI by 86.4% in the third quarter. Quarry LP now owns 889 shares of the basic materials company's stock valued at $59,000 after purchasing an additional 412 shares during the period.

Analyst Upgrades and Downgrades

ATI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. 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 report on Thursday, October 3rd. Susquehanna decreased their price objective on shares of ATI from $75.00 to $70.00 and set a "positive" rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded shares of ATI from a "hold" rating to a "sell" rating in a research note on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $73.71.

ATI Trading Up 0.7 %

ATI traded up $0.40 during trading on Tuesday, hitting $57.09. 1,495,442 shares of the company's stock were exchanged, compared to its average volume of 1,441,096. The firm has a market cap of $8.14 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.09. The stock has a 50 day moving average price of $59.99 and a 200 day moving average price of $60.52. 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 1 year low of $38.04 and a 1 year high of $68.92.

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

ATI declared that its Board of Directors has initiated 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 reacquire 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.

Insider Activity at ATI

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

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.