Connor Clark & Lunn Investment Management Ltd. Takes $2.92 Million Position in ATI Inc. (NYSE:ATI)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ATI Inc. (NYSE:ATI - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 43,591 shares of the basic materials company's stock, valued at approximately $2,917,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ATI. Quarry LP bought a new stake in shares of ATI during the 2nd quarter valued at about $26,000. UMB Bank n.a. increased its position in ATI by 557.0% in the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company's stock valued at $62,000 after acquiring an additional 791 shares during the period. EverSource Wealth Advisors LLC increased its position in ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company's stock valued at $69,000 after acquiring an additional 1,010 shares during the period. Quest Partners LLC acquired a new position in ATI during the 2nd quarter worth $88,000. Finally, nVerses Capital LLC bought a new position in shares of ATI in the second quarter worth $205,000.

ATI Stock Performance

ATI traded up $0.85 on Monday, hitting $60.15. The company had a trading volume of 1,465,061 shares, compared to its average volume of 1,455,887. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. 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 company's fifty day moving average price is $61.05 and its 200 day moving average price is $60.59. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $1.12 billion. During the same period in the prior year, the firm posted $0.55 EPS. ATI's revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts predict that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

ATI announced that its board has approved a share repurchase 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 typically a sign that the company's management believes its stock is undervalued.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the business'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 value of $1,555,750.00. Following the transaction, the chairman now directly owns 486,443 shares of the company's stock, valued at $30,271,347.89. The trade was a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Susquehanna cut their price objective on shares of ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research note on Wednesday, October 30th. Benchmark reissued a "buy" rating and set a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. One equities research 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.