Eagle Asset Management Inc. Acquires 68,265 Shares of ATI Inc. (NYSE:ATI)

Eagle Asset Management Inc. increased its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 39.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 242,644 shares of the basic materials company's stock after purchasing an additional 68,265 shares during the period. Eagle Asset Management Inc. owned approximately 0.17% of ATI worth $16,235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its position in shares of 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 acquiring an additional 172 shares during the period. O Shaughnessy Asset Management LLC grew its position in shares of ATI by 3.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company's stock worth $364,000 after purchasing an additional 224 shares in the last quarter. Beck Capital Management LLC increased its holdings in shares of ATI by 0.8% during the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company's stock worth $1,898,000 after purchasing an additional 262 shares during the period. KBC Group NV raised its position in shares of 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 buying an additional 385 shares in the last quarter. Finally, Souders Financial Advisors increased its stake in ATI by 6.1% during the 3rd quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company's stock worth $477,000 after acquiring an additional 411 shares during the period.

ATI Trading Up 2.0 %

Shares of NYSE:ATI traded up $1.14 during mid-day trading on Friday, reaching $59.30. 1,062,801 shares of the company's stock were exchanged, compared to its average volume of 1,919,762. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.01 and a beta of 1.08. The business's fifty day moving average price is $61.08 and its 200-day moving average price is $60.59.

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 (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.06). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 earnings per share. On average, research analysts predict that ATI Inc. will post 2.27 EPS for the current fiscal year.

ATI announced that its board has approved a stock buyback plan on Tuesday, September 3rd that permits the company to buyback $700.00 million in shares. This buyback authorization permits the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

ATI has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. Susquehanna decreased 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 restated a "buy" rating and set a $80.00 target price on shares of ATI in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their target price on shares of ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Finally, KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, ATI has a consensus rating of "Moderate Buy" and an average price target of $73.71.

Insider Buying and Selling

In other ATI 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 approximately $30,271,347.89. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.71% of the stock is owned by insiders.

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.