Maven Securities LTD Purchases New Position in ATI Inc. (NYSE:ATI)

Maven Securities LTD bought a new stake in ATI Inc. (NYSE:ATI - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 25,750 shares of the basic materials company's stock, valued at approximately $1,723,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Quarry LP purchased a new position in ATI during the 2nd quarter valued at about $26,000. UMB Bank n.a. increased its holdings in ATI by 557.0% during the 3rd 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 during the period. EverSource Wealth Advisors LLC increased its holdings in 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 purchasing an additional 1,010 shares during the period. Quest Partners LLC purchased a new position in shares of ATI during the 2nd quarter worth approximately $88,000. Finally, nVerses Capital LLC purchased a new position in shares of ATI during the 2nd quarter worth approximately $205,000.

ATI Price Performance

ATI stock traded up $0.16 during trading on Wednesday, reaching $59.90. The company's stock had a trading volume of 1,343,955 shares, compared to its average volume of 1,444,172. ATI Inc. has a 1 year low of $38.04 and a 1 year high of $68.92. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $8.54 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 2.06 and a beta of 1.09. The company's fifty day moving average is $60.61 and its 200-day moving average is $60.57.

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

ATI declared that its Board of Directors has approved a share buyback plan on Tuesday, September 3rd that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the transaction, the chairman now owns 486,443 shares in the company, valued at $30,271,347.89. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.05% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ATI. Deutsche Bank Aktiengesellschaft upped their target price on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Benchmark reissued a "buy" rating and issued a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. Susquehanna dropped their price target on ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com cut ATI from a "hold" rating to a "sell" rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus 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.