Holocene Advisors LP Invests $18.93 Million in ATI Inc. (NYSE:ATI)

Holocene Advisors LP bought a new stake in ATI Inc. (NYSE:ATI - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 282,890 shares of the basic materials company's stock, valued at approximately $18,928,000. Holocene Advisors LP owned 0.20% of ATI as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in ATI. Dimensional Fund Advisors LP lifted its stake in ATI by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company's stock worth $139,003,000 after purchasing an additional 102,691 shares during the period. Millennium Management LLC lifted its stake in ATI by 165.1% during the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company's stock worth $107,846,000 after purchasing an additional 1,211,273 shares during the period. Federated Hermes Inc. lifted its stake in ATI by 4.3% during the second quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company's stock worth $94,412,000 after purchasing an additional 70,812 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in ATI by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company's stock worth $91,750,000 after purchasing an additional 24,224 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in ATI by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,849 shares of the basic materials company's stock worth $75,792,000 after purchasing an additional 14,664 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have commented on ATI shares. Susquehanna cut their price target on shares of ATI from $75.00 to $70.00 and set a "positive" rating for the company in a research note on Wednesday, October 30th. StockNews.com lowered shares of ATI from a "hold" rating to a "sell" rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Benchmark reaffirmed a "buy" rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. Finally, KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, ATI presently has a consensus rating of "Hold" and an average price target of $73.71.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the sale, the chairman now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.05% of the company's stock.

ATI Price Performance

Shares of ATI stock traded up $0.09 during midday trading on Tuesday, reaching $59.79. The company had a trading volume of 743,209 shares, compared to its average volume of 1,442,664. 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 company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 2.08 and a beta of 1.09. The stock has a fifty day simple moving average of $60.71 and a 200 day simple moving average of $60.57. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business earned $0.55 EPS. The business's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts forecast that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its Board of Directors has authorized a share repurchase program on Tuesday, September 3rd that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership 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.