ATI Inc. (NYSE:ATI) Shares Bought by Cerity Partners LLC

Cerity Partners LLC increased its holdings in ATI Inc. (NYSE:ATI - Free Report) by 149.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,071 shares of the basic materials company's stock after acquiring an additional 9,027 shares during the quarter. Cerity Partners LLC's holdings in ATI were worth $1,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Jane Street Group LLC boosted its stake in ATI by 11.0% in the 1st quarter. Jane Street Group LLC now owns 106,237 shares of the basic materials company's stock worth $5,436,000 after purchasing an additional 10,561 shares in the last quarter. Tidal Investments LLC increased its position in shares of ATI by 143.8% during the first quarter. Tidal Investments LLC now owns 11,312 shares of the basic materials company's stock valued at $579,000 after acquiring an additional 6,673 shares in the last quarter. SG Americas Securities LLC raised its holdings in 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 during the last quarter. Friedenthal Financial bought a new position in ATI in the 2nd quarter valued at approximately $782,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position 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 valued at $798,000 after buying an additional 2,646 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ATI. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price objective on ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Susquehanna decreased their target price on ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research note on Wednesday, October 30th. Benchmark restated a "buy" rating and issued a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. Finally, KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, ATI currently has a consensus rating of "Hold" and an average target price of $73.71.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm'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 of the company's stock, valued at $30,271,347.89. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is currently owned by corporate insiders.

ATI Trading Down 2.4 %

Shares of NYSE ATI traded down $1.42 during midday trading on Thursday, hitting $58.48. The company's stock had a trading volume of 876,846 shares, compared to its average volume of 1,441,758. ATI Inc. has a 12-month low of $38.04 and a 12-month high of $68.92. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The firm has a market cap of $8.34 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.06 and a beta of 1.09. The business's 50 day moving average is $60.50 and its two-hundred day moving average is $60.56.

ATI (NYSE:ATI - Get Free Report) last released 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 return on equity of 21.39% and a net margin of 8.85%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the business posted $0.55 earnings per share. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities research analysts expect that ATI Inc. will post 2.27 EPS for the current year.

ATI declared that its Board of Directors has initiated a share buyback program on Tuesday, September 3rd that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the basic materials company to reacquire 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.

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.