Mutual of America Capital Management LLC Decreases Stock Position in ATI Inc. (NYSE:ATI)

Mutual of America Capital Management LLC trimmed its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 58.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,818 shares of the basic materials company's stock after selling 76,011 shares during the period. Mutual of America Capital Management LLC's holdings in ATI were worth $3,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in shares of 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 acquiring an additional 102,691 shares during the period. Millennium Management LLC raised its stake in shares of 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 buying an additional 1,211,273 shares during the period. Federated Hermes Inc. grew its stake in ATI by 4.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company's stock valued at $94,412,000 after acquiring an additional 70,812 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position 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 acquiring an additional 14,664 shares during the period. Finally, Senator Investment Group LP grew its position in shares of ATI by 167.6% in the second quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company's stock valued at $49,414,000 after purchasing an additional 558,138 shares during the period.

ATI Trading Up 2.0 %

Shares of ATI stock traded up $1.14 during mid-day trading on Friday, hitting $59.30. The stock had a trading volume of 1,062,801 shares, compared to its average volume of 1,919,762. The firm has a 50-day moving average of $61.08 and a two-hundred day moving average of $60.59. The firm has a market cap of $8.46 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. ATI Inc. has a 12-month low of $38.04 and a 12-month high of $68.92.

ATI (NYSE:ATI - Get Free Report) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $0.55 EPS. ATI's revenue was up 2.5% compared to the same quarter last year. Sell-side analysts forecast that ATI Inc. will post 2.27 earnings per share for the current year.

ATI announced that its Board of Directors has initiated a stock buyback program on Tuesday, September 3rd that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the business's stock in a transaction 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 sale, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ATI shares. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Benchmark reaffirmed a "buy" rating and set a $80.00 target price on shares of ATI in a research note on Wednesday, August 7th. Susquehanna decreased their price target on shares of ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock 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.