Fmr LLC Has $621.02 Million Stock Holdings in ATI Inc. (NYSE:ATI)

FMR LLC lowered its stake in ATI Inc. (NYSE:ATI - Free Report) by 13.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,281,393 shares of the basic materials company's stock after selling 1,479,461 shares during the quarter. FMR LLC owned about 6.51% of ATI worth $621,018,000 at the end of the most recent quarter.

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 in the 2nd quarter worth approximately $26,000. UMB Bank n.a. grew its position in ATI by 557.0% during the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company's stock valued at $62,000 after purchasing an additional 791 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of ATI by 294.5% during 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 in the last quarter. Quest Partners LLC acquired a new position in ATI in the 2nd quarter worth about $88,000. Finally, nVerses Capital LLC acquired a new position in ATI in the second quarter worth approximately $205,000.

ATI Stock Performance

Shares of ATI stock traded up $0.05 during trading on Friday, reaching $60.17. The company's stock had a trading volume of 643,224 shares, compared to its average volume of 1,446,759. The business's fifty day moving average price is $60.89 and its 200-day moving average price is $60.58. ATI Inc. has a one year low of $38.04 and a one year high of $68.92. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 2.08 and a beta of 1.08. 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 (NYSE:ATI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). The business had revenue of $1.05 billion during 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 business's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. As a group, equities research analysts predict that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its board has authorized a stock repurchase program 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 programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value 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. The trade was a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ATI. Benchmark restated a "buy" rating and set a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price objective on ATI from $81.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Finally, Susquehanna reduced their target price on ATI from $75.00 to $70.00 and set a "positive" rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus 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.