ATI Inc. (NYSE:ATI) Position Reduced by NorthRock Partners LLC

NorthRock Partners LLC cut its stake in ATI Inc. (NYSE:ATI - Free Report) by 6.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 404,092 shares of the basic materials company's stock after selling 28,902 shares during the quarter. ATI comprises approximately 2.4% of NorthRock Partners LLC's holdings, making the stock its 10th largest holding. NorthRock Partners LLC owned approximately 0.32% of ATI worth $27,038,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP bought a new position in shares of ATI during the second quarter valued at approximately $26,000. UMB Bank n.a. boosted its holdings in ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company's stock valued at $62,000 after acquiring an additional 791 shares during the period. EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 1,010 shares during the last quarter. Quest Partners LLC purchased a new stake in ATI in the second quarter worth $88,000. Finally, GAMMA Investing LLC lifted its position in shares of ATI by 66.0% during the third quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company's stock worth $224,000 after purchasing an additional 1,330 shares during the last quarter.

ATI Stock Up 0.9 %

ATI stock traded up $0.50 during mid-day trading on Tuesday, reaching $54.01. 2,566,863 shares of the company were exchanged, compared to its average volume of 1,455,918. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. The firm has a market cap of $7.70 billion, a P/E ratio of 20.77, a PEG ratio of 1.85 and a beta of 1.08. The business has a fifty day moving average of $62.24 and a 200 day moving average of $60.31. 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 issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter last year, the company earned $0.55 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. Research analysts anticipate that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

ATI declared that its board has initiated a share buyback program on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Insider Activity

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on 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 transaction, the chairman now directly owns 486,443 shares of the company's stock, valued at approximately $30,271,347.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.05% of the company's stock.

Wall Street Analysts Forecast Growth

ATI has been the topic of a number of research analyst reports. Susquehanna cut their price target on shares of ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price target on shares of ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Finally, Benchmark reaffirmed a "buy" rating and set a $80.00 target price on shares of ATI in a research report on Wednesday, August 7th. One equities 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 company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $73.71.

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.