ING Groep NV Makes New Investment in ATI Inc. (NYSE:ATI)

ING Groep NV acquired a new stake in shares of ATI Inc. (NYSE:ATI - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 48,000 shares of the basic materials company's stock, valued at approximately $3,212,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of ATI by 1.3% during the 1st quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company's stock worth $788,524,000 after buying an additional 203,012 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ATI by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company's stock valued at $733,720,000 after purchasing an additional 132,478 shares in the last quarter. Capital World Investors grew its holdings in shares of ATI by 43.9% during the 1st quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company's stock valued at $145,372,000 after purchasing an additional 866,310 shares during the last quarter. Dimensional Fund Advisors LP increased its position in ATI by 4.3% during the 2nd 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 in the last quarter. Finally, Millennium Management LLC increased its position in ATI by 165.1% during the 2nd 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 in the last quarter.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.61, for a total value of $1,540,250.00. Following the sale, the chairman now owns 511,443 shares in the company, valued at $31,510,003.23. This represents a 4.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.71% of the stock is owned by company insiders.

ATI Trading Down 0.0 %

Shares of ATI stock traded down $0.02 during mid-day trading on Friday, hitting $56.17. The company's stock had a trading volume of 1,256,181 shares, compared to its average volume of 1,919,403. ATI Inc. has a 52 week low of $38.04 and a 52 week high of $68.92. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. The company's fifty day simple moving average is $61.36 and its 200-day simple moving average is $60.62. The company has a market cap of $8.01 billion, a PE ratio of 21.60, a P/E/G ratio of 1.94 and a beta of 1.08.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results 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 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 the consensus estimate of $1.12 billion. During the same period last year, the firm posted $0.55 earnings per share. The company's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts expect that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

ATI announced that its Board of Directors has approved 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 purchase up to 9.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have weighed in on ATI shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Susquehanna cut their price target on ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Finally, Benchmark reiterated a "buy" rating and set a $80.00 target price on shares of ATI in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.