Paloma Partners Management Co Sells 95,762 Shares of ATI Inc. (NYSE:ATI)

Paloma Partners Management Co trimmed its position in ATI Inc. (NYSE:ATI - Free Report) by 88.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,675 shares of the basic materials company's stock after selling 95,762 shares during the quarter. Paloma Partners Management Co's holdings in ATI were worth $848,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Jane Street Group LLC raised its position in ATI by 11.0% in the first quarter. Jane Street Group LLC now owns 106,237 shares of the basic materials company's stock worth $5,436,000 after purchasing an additional 10,561 shares in the last quarter. Tidal Investments LLC lifted its position in ATI by 143.8% during the 1st quarter. Tidal Investments LLC now owns 11,312 shares of the basic materials company's stock worth $579,000 after buying an additional 6,673 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in 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 acquiring an additional 1,010 shares during the last quarter. First Hawaiian Bank acquired a new stake in ATI in the 2nd quarter valued at about $757,000. Finally, SG Americas Securities LLC raised its stake in shares of ATI by 202.7% in the second quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company's stock worth $1,522,000 after acquiring an additional 18,381 shares during the last quarter.

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the transaction, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.05% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ATI has been the topic of a number of recent research reports. Susquehanna decreased their price objective on ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised 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. StockNews.com cut ATI from a "hold" rating to a "sell" rating in a report on Monday. KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $73.71.

ATI Price Performance

Shares of ATI stock remained flat at $59.70 during trading hours on Tuesday. The company's stock had a trading volume of 1,044,907 shares, compared to its average volume of 1,444,602. ATI Inc. has a 12 month low of $38.04 and a 12 month high of $68.92. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $8.52 billion, a P/E ratio of 23.00, a PEG ratio of 2.06 and a beta of 1.09. The stock has a 50 day simple moving average of $60.71 and a 200 day simple moving average of $60.57.

ATI (NYSE:ATI - Get Free Report) last announced its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The business's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. Equities analysts expect that ATI Inc. will post 2.27 EPS for the current year.

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

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.