Jade Capital Advisors LLC Purchases New Position in ATI Inc. (NYSE:ATI)

Jade Capital Advisors LLC bought a new stake in ATI Inc. (NYSE:ATI - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 20,000 shares of the basic materials company's stock, valued at approximately $1,338,000.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of ATI during the 2nd quarter worth $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of ATI in the 1st quarter worth about $51,000. UMB Bank n.a. lifted its stake in shares of ATI by 557.0% in 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of ATI by 294.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company's stock worth $69,000 after purchasing an additional 1,010 shares during the period. Finally, Quest Partners LLC acquired a new stake in ATI during the 2nd quarter worth approximately $88,000.

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the transaction, the chairman now owns 486,443 shares of the company's stock, valued at approximately $30,271,347.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.71% of the company's stock.

ATI Stock Down 0.4 %

Shares of NYSE:ATI traded down $0.25 during midday trading on Tuesday, reaching $63.13. The company had a trading volume of 731,439 shares, compared to its average volume of 1,413,533. The stock has a market capitalization of $7.86 billion, a P/E ratio of 25.36, a PEG ratio of 1.42 and a beta of 1.04. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. ATI Inc. has a one year low of $35.03 and a one year high of $68.92. The stock's fifty day moving average price is $63.51 and its 200-day moving average price is $59.82.

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 for the quarter, beating the consensus estimate of $0.58 by $0.02. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts expect that ATI Inc. will post 2.47 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

ATI has been the topic of a number of recent research reports. KeyCorp lifted their price target on shares of ATI from $66.00 to $67.00 and gave the company an "overweight" rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised 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. BTIG Research initiated coverage on ATI in a research report on Wednesday, June 26th. They issued a "buy" rating and a $70.00 target price for the company. Susquehanna started coverage on ATI in a research report on Thursday, September 5th. They set a "positive" rating and a $75.00 price target on the stock. Finally, Benchmark reaffirmed a "buy" rating and issued a $80.00 price objective 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $74.43.

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.