46,146 Shares in ATI Inc. (NYSE:ATI) Purchased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC purchased a new stake in ATI Inc. (NYSE:ATI - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 46,146 shares of the basic materials company's stock, valued at approximately $3,088,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings 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 valued at $139,003,000 after buying an additional 102,691 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in ATI in the 3rd quarter worth approximately $765,000. WINTON GROUP Ltd boosted its holdings in ATI by 138.1% in the 2nd quarter. WINTON GROUP Ltd now owns 32,485 shares of the basic materials company's stock valued at $1,801,000 after purchasing an additional 18,842 shares during the period. Renaissance Technologies LLC grew its position in shares of ATI by 32.9% during the 2nd quarter. Renaissance Technologies LLC now owns 180,192 shares of the basic materials company's stock valued at $9,992,000 after purchasing an additional 44,600 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of ATI by 16.9% in the third quarter. Advisors Asset Management Inc. now owns 77,022 shares of the basic materials company's stock worth $5,154,000 after purchasing an additional 11,154 shares during the period.

ATI Trading Down 2.3 %

ATI traded down $1.28 on Tuesday, hitting $55.25. 1,714,834 shares of the company were exchanged, compared to its average volume of 1,439,016. 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 12 month low of $38.04 and a 12 month high of $68.92. The firm has a fifty day simple moving average of $58.98 and a two-hundred day simple moving average of $60.33. The stock has a market capitalization of $7.88 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 1.95 and a beta of 1.09.

ATI (NYSE:ATI - Get Free Report) last issued its 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 firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. Sell-side analysts expect that ATI Inc. will post 2.27 earnings per share for the current year.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Susquehanna reduced their target price on ATI from $75.00 to $70.00 and set a "positive" rating for the company in a research report on Wednesday, October 30th. KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of ATI from a "sell" rating to a "hold" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upped their target price 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. Finally, Deutsche Bank Aktiengesellschaft raised their price target on ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $73.71.

Insider Transactions at ATI

In other news, SVP Tina Killough Busch sold 2,598 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following the completion of the sale, the senior vice president now directly owns 21,553 shares of the company's stock, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the transaction, the chairman now owns 436,443 shares in the company, valued at $25,745,772.57. This represents a 5.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,598 shares of company stock worth $3,186,432. Company insiders own 1.05% of the company's stock.

About ATI

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.