Royce & Associates LP Sells 39,090 Shares of ATI Inc. (NYSE:ATI)

Royce & Associates LP cut its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 14.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 226,122 shares of the basic materials company's stock after selling 39,090 shares during the period. Royce & Associates LP owned 0.16% of ATI worth $15,130,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP acquired a new position in shares of ATI in the second quarter valued at $26,000. UMB Bank n.a. grew its stake in 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 buying an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 period. Quest Partners LLC acquired a new stake in ATI during the second quarter worth approximately $88,000. Finally, nVerses Capital LLC bought a new stake in shares of ATI during the second quarter worth approximately $205,000.

Insider Transactions at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.61, for a total value of $1,540,250.00. Following the completion of the transaction, the chairman now owns 511,443 shares of the company's stock, valued at $31,510,003.23. This represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.71% of the company's stock.

ATI Price Performance

Shares of ATI stock traded down $0.02 during trading on Friday, reaching $56.17. 1,256,181 shares of the company's stock were exchanged, compared to its average volume of 1,466,572. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. The company has a market cap of $8.01 billion, a P/E ratio of 21.60, a PEG ratio of 2.01 and a beta of 1.08. The firm's 50-day moving average price is $61.36 and its 200 day moving average price is $60.61.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 earnings per share. As a group, research analysts anticipate that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its Board of Directors has initiated a stock buyback program on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in 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 often an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

ATI has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Benchmark reiterated a "buy" rating and set a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. Susquehanna reduced their target price on shares of ATI from $75.00 to $70.00 and set a "positive" rating for the company in a research report on Wednesday, October 30th. KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.