Scientech Research LLC Makes New $1.69 Million Investment in ATI Inc. (NYSE:ATI)

Scientech Research LLC bought a new position in shares of ATI Inc. (NYSE:ATI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 30,505 shares of the basic materials company's stock, valued at approximately $1,692,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ATI. Benjamin F. Edwards & Company Inc. acquired a new position in ATI during the first quarter worth about $51,000. EverSource Wealth Advisors LLC raised its position in ATI by 294.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company's stock worth $69,000 after acquiring an additional 1,010 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of ATI during the second quarter worth about $88,000. GAMMA Investing LLC grew its holdings in shares of ATI by 46.5% during the first quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company's stock worth $96,000 after buying an additional 593 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in shares of ATI by 211.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company's stock worth $121,000 after buying an additional 1,800 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ATI shares. BTIG Research started coverage on shares of ATI in a report on Wednesday, June 26th. They set a "buy" rating and a $70.00 price target for the company. KeyCorp lifted their price target on shares of ATI from $66.00 to $67.00 and gave the stock an "overweight" rating in a report on Monday, August 12th. JPMorgan Chase & Co. lifted their price target on shares of ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Susquehanna started coverage on shares of ATI in a report on Thursday, September 5th. They set a "positive" rating and a $75.00 price target for the company. Finally, Benchmark reiterated a "buy" rating and set a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued 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 $74.00.

ATI Price Performance

ATI stock opened at $65.32 on Friday. ATI Inc. has a 1 year low of $35.03 and a 1 year high of $68.92. The firm has a 50 day moving average price of $63.01 and a 200 day moving average price of $57.97. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 1.58 and a beta of 1.04. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.07 and a current ratio of 2.13.

ATI (NYSE:ATI - Get Free Report) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. ATI's revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. Sell-side analysts predict that ATI Inc. will post 2.48 earnings per share for the current year.

ATI declared that its Board of Directors has authorized a share repurchase plan 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 purchase up to 9.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the transaction, the chairman now directly owns 511,443 shares of the company's stock, valued at $31,510,003.23. The sale was disclosed in a filing with the SEC, which is available at this link. 0.71% of the stock is currently owned by corporate insiders.

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.

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