Citigroup Inc. Sells 300,070 Shares of ATI Inc. (NYSE:ATI)

Citigroup Inc. trimmed its holdings in ATI Inc. (NYSE:ATI - Free Report) by 79.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 79,329 shares of the basic materials company's stock after selling 300,070 shares during the quarter. Citigroup Inc. owned about 0.06% of ATI worth $5,308,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quarry LP bought a new stake in shares of ATI in the second quarter worth approximately $26,000. UMB Bank n.a. lifted its holdings in shares of ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company's stock valued at $62,000 after buying an additional 791 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 worth $69,000 after buying an additional 1,010 shares during the last quarter. Quest Partners LLC bought a new stake in shares of ATI in the second quarter worth $88,000. Finally, nVerses Capital LLC purchased a new stake in ATI during the second quarter valued at $205,000.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 486,443 shares in the company, valued at $30,271,347.89. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.71% of the company's stock.

ATI Price Performance

Shares of NYSE:ATI traded down $0.47 during trading on Monday, hitting $59.70. 1,346,098 shares of the company's stock were exchanged, compared to its average volume of 1,446,324. The business's 50-day simple moving average is $60.82 and its 200 day simple moving average is $60.58. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. ATI Inc. has a 52-week low of $38.04 and a 52-week high of $68.92. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 2.08 and a beta of 1.08.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.06). The company had revenue of $1.05 billion for 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%. The company's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.55 earnings per share. As a group, equities analysts predict that ATI Inc. will post 2.27 EPS for the current year.

ATI announced that its board has initiated a share buyback plan on Tuesday, September 3rd that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have issued reports on ATI. Deutsche Bank Aktiengesellschaft boosted their price target on ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. Susquehanna cut their price objective 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. JPMorgan Chase & Co. lifted their target price on ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Finally, Benchmark restated a "buy" rating and issued a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, ATI currently has an average rating of "Moderate Buy" and an average target price of $73.71.

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.