Quantbot Technologies LP Takes $969,000 Position in ATI Inc. (NYSE:ATI)

Quantbot Technologies LP acquired a new stake in shares of ATI Inc. (NYSE:ATI - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,480 shares of the basic materials company's stock, valued at approximately $969,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its position 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 acquiring an additional 102,691 shares during the last quarter. Millennium Management LLC boosted its position in shares of ATI by 165.1% during the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company's stock valued at $107,846,000 after buying an additional 1,211,273 shares during the period. Federated Hermes Inc. grew its stake in shares of ATI by 4.3% during the second quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company's stock valued at $94,412,000 after buying an additional 70,812 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of ATI by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company's stock valued at $91,750,000 after buying an additional 24,224 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in ATI by 1.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,849 shares of the basic materials company's stock valued at $75,792,000 after acquiring an additional 14,664 shares during the last quarter.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the company's stock in a transaction that occurred 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 approximately $31,510,003.23. This represents a 4.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ATI has been the topic of several recent analyst reports. Susquehanna reduced their price target on shares of ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted 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 restated a "buy" rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their target price on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Finally, KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, ATI has a consensus rating of "Moderate Buy" and a consensus price target of $73.71.

ATI Stock Down 0.6 %

Shares of ATI stock traded down $0.37 on Monday, reaching $59.80. The stock had a trading volume of 439,246 shares, compared to its average volume of 1,442,248. 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 stock has a market capitalization of $8.53 billion, a P/E ratio of 23.13, a P/E/G ratio of 2.08 and a beta of 1.08. The company has a 50 day moving average price of $60.82 and a 200 day moving average price of $60.58. ATI Inc. has a 1 year low of $38.04 and a 1 year high of $68.92.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. ATI's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that ATI Inc. will post 2.27 EPS for the current year.

ATI declared that its Board of Directors has authorized a share repurchase 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 repurchase up to 9.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

About ATI

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.