ATI Inc. (NYSE:ATI) Shares Sold by Barclays PLC

Barclays PLC decreased its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 93.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,541 shares of the basic materials company's stock after selling 701,605 shares during the quarter. Barclays PLC's holdings in ATI were worth $3,516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC raised its holdings in shares of ATI by 4,401.2% during the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company's stock worth $629,683,000 after acquiring an additional 9,201,818 shares during the period. Millennium Management LLC raised its stake in ATI by 165.1% during the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company's stock worth $107,846,000 after purchasing an additional 1,211,273 shares during the period. Senator Investment Group LP boosted its holdings in ATI by 167.6% in the 2nd 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 2nd quarter valued at approximately $28,896,000. Finally, Forest Avenue Capital Management LP acquired a new stake in shares of ATI during the 3rd quarter worth approximately $28,700,000.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the company's stock in a transaction 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 completion of the transaction, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tina Killough Busch sold 2,598 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value 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. This represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,598 shares of company stock worth $3,186,432 over the last three months. Insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ATI. Susquehanna lowered their price objective on ATI from $75.00 to $70.00 and set a "positive" rating for the company in a research report on Wednesday, October 30th. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ATI from $81.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Finally, StockNews.com raised shares of ATI from a "sell" rating to a "hold" rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $73.71.

ATI Stock Up 1.4 %

Shares of NYSE ATI traded up $0.77 during midday trading on Monday, hitting $55.23. The company's stock had a trading volume of 1,118,735 shares, compared to its average volume of 1,464,324. ATI Inc. has a 1 year low of $38.04 and a 1 year high of $68.92. The business's fifty day simple moving average is $58.45 and its two-hundred day simple moving average is $60.21. 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 $7.88 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 1.95 and a beta of 1.09.

ATI (NYSE:ATI - Get Free Report) last issued 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). 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 analyst estimates of $1.12 billion. During the same period last year, the business earned $0.55 EPS. The firm's revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that ATI Inc. will post 2.27 EPS for the current year.

ATI announced that its board has authorized a stock buyback plan 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 reacquire up to 9.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

ATI 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.