ATI Inc. (NYSE:ATI) Holdings Lowered by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in ATI Inc. (NYSE:ATI - Free Report) by 19.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 424,909 shares of the basic materials company's stock after selling 103,706 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.34% of ATI worth $28,431,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP purchased a new position in shares of ATI in the 2nd quarter worth $26,000. UMB Bank n.a. raised its holdings 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 worth $62,000 after purchasing an additional 791 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company's stock valued at $69,000 after purchasing an additional 1,010 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of ATI during the 2nd quarter worth about $88,000. Finally, nVerses Capital LLC acquired a new stake in ATI during the 2nd quarter worth approximately $205,000.

Insider Activity at ATI

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

Wall Street Analysts Forecast Growth

ATI has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price target on ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. Benchmark reissued a "buy" rating and issued a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. Susquehanna started coverage on shares of ATI in a research report on Thursday, September 5th. They issued a "positive" rating and a $75.00 price objective for the company. Finally, KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.43.

ATI Stock Performance

NYSE:ATI traded down $0.11 during trading hours on Friday, reaching $61.38. 1,183,539 shares of the stock were exchanged, compared to its average volume of 1,411,611. The stock has a market capitalization of $7.64 billion, a P/E ratio of 24.65, a P/E/G ratio of 1.42 and a beta of 1.04. The firm has a 50 day simple moving average of $63.40 and a 200-day simple moving average of $60.05. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 1.26. ATI Inc. has a 52 week low of $36.65 and a 52 week high of $68.92.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS. As a group, sell-side analysts forecast that ATI Inc. will post 2.47 earnings per share for the current fiscal year.

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