ATI Inc. (NYSE:ATI) is Mountaineer Partners Management LLC's 6th Largest Position

Mountaineer Partners Management LLC raised its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 4,401.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,410,891 shares of the basic materials company's stock after buying an additional 9,201,818 shares during the quarter. ATI comprises about 5.2% of Mountaineer Partners Management LLC's investment portfolio, making the stock its 6th biggest holding. Mountaineer Partners Management LLC owned about 6.60% of ATI worth $629,683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ATI. SG Americas Securities LLC increased its holdings in shares of ATI by 202.7% in the 2nd quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company's stock worth $1,522,000 after purchasing an additional 18,381 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of ATI by 17.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 528,615 shares of the basic materials company's stock worth $29,312,000 after purchasing an additional 79,285 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of ATI by 4.3% in 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. Jane Street Group LLC increased its holdings in shares of ATI by 11.0% in the 1st quarter. Jane Street Group LLC now owns 106,237 shares of the basic materials company's stock worth $5,436,000 after purchasing an additional 10,561 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in shares of ATI in the 2nd quarter worth $782,000.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the transaction, the chairman now owns 486,443 shares of the company's stock, valued at $30,271,347.89. This represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Benchmark restated a "buy" rating and issued a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. Finally, Susquehanna lowered their price objective on ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, ATI has an average rating of "Hold" and an average price target of $73.71.

ATI Trading Down 0.1 %

Shares of ATI traded down $0.07 during mid-day trading on Wednesday, reaching $59.67. 598,182 shares of the company's stock traded hands, compared to its average volume of 1,440,907. The stock has a market cap of $8.51 billion, a P/E ratio of 23.00, a P/E/G ratio of 2.06 and a beta of 1.09. The stock's 50-day moving average is $60.61 and its two-hundred day moving average is $60.57. ATI Inc. has a 12 month low of $38.04 and a 12 month high of $68.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44.

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

ATI declared that its Board of Directors has initiated a stock repurchase 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 buy 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 shares are 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.