Cwm LLC Buys 34,485 Shares of ATI Inc. (NYSE:ATI)

CWM LLC raised its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 5,005.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,174 shares of the basic materials company's stock after acquiring an additional 34,485 shares during the period. CWM LLC's holdings in ATI were worth $2,353,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors increased its stake in shares of ATI by 1.3% during the first quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company's stock valued at $788,524,000 after acquiring an additional 203,012 shares during the period. Vanguard Group Inc. lifted its holdings in shares of ATI by 0.9% in the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company's stock valued at $733,720,000 after buying an additional 132,478 shares during the period. Capital World Investors boosted its stake in ATI by 43.9% during the first quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company's stock valued at $145,372,000 after buying an additional 866,310 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in ATI by 4.3% during the second 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. Finally, Millennium Management LLC grew its holdings in ATI by 165.1% during the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company's stock worth $107,846,000 after acquiring an additional 1,211,273 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ATI. Susquehanna began coverage on shares of ATI in a report on Thursday, September 5th. They issued a "positive" rating and a $75.00 price target for the company. KeyCorp raised their target price on shares of ATI from $66.00 to $67.00 and gave the stock an "overweight" rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft upped their price target on ATI from $81.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price objective on ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Finally, Benchmark reiterated a "buy" rating and issued a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $74.43.

ATI Stock Down 0.5 %

ATI stock traded down $0.32 during midday trading on Tuesday, reaching $62.48. The company had a trading volume of 905,302 shares, compared to its average volume of 1,429,669. The company has a 50 day moving average of $63.37 and a two-hundred day moving average of $59.47. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. ATI Inc. has a 1 year low of $35.03 and a 1 year high of $68.92. The company has a market capitalization of $7.78 billion, a P/E ratio of 25.09, a PEG ratio of 1.42 and a beta of 1.04.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings data 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. ATI had a return on equity of 23.05% and a net margin of 8.74%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter last year, the firm earned $0.59 earnings per share. The business's revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts expect that ATI Inc. will post 2.47 earnings per share for the current fiscal year.

ATI declared that its board has approved a share buyback plan 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 reacquire up to 9.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction 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 owns 511,443 shares in the company, valued at $31,510,003.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.71% of the company's stock.

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.