Segall Bryant & Hamill LLC Invests $8.99 Million in ATI Inc. (NYSE:ATI)

Segall Bryant & Hamill LLC acquired a new stake in 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 134,391 shares of the basic materials company's stock, valued at approximately $8,992,000. Segall Bryant & Hamill LLC owned 0.09% of ATI as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ATI. Vanguard Group Inc. boosted its holdings in ATI by 0.9% during the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company's stock worth $733,720,000 after buying an additional 132,478 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in ATI by 3.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company's stock worth $364,000 after buying an additional 224 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in ATI by 20.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 126,978 shares of the basic materials company's stock worth $6,496,000 after buying an additional 21,887 shares in the last quarter. Capital World Investors boosted its holdings in ATI by 43.9% during the first quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company's stock worth $145,372,000 after buying an additional 866,310 shares in the last quarter. Finally, Appian Way Asset Management LP boosted its holdings in ATI by 57.6% during the first quarter. Appian Way Asset Management LP now owns 172,408 shares of the basic materials company's stock worth $8,822,000 after buying an additional 63,008 shares in the last quarter.

Insider Buying and Selling

In related 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 completion of the transaction, the chairman now owns 511,443 shares of the company's stock, valued at approximately $31,510,003.23. This represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. 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 report on Wednesday, October 30th. KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of ATI from $81.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Benchmark reaffirmed a "buy" rating and issued a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $73.71.

ATI Trading Up 2.0 %

Shares of ATI traded up $1.14 on Friday, hitting $59.30. 1,056,858 shares of the stock traded hands, compared to its average volume of 1,455,835. 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 firm has a market capitalization of $8.46 billion, a P/E ratio of 22.81, a P/E/G ratio of 2.01 and a beta of 1.08. The stock's 50 day moving average is $61.08 and its two-hundred day moving average is $60.59. 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 issued its quarterly 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). 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 analyst estimates of $1.12 billion. During the same period last year, the company posted $0.55 EPS. The business's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts predict that ATI Inc. will post 2.27 earnings per share for the current year.

ATI announced that its board has initiated a stock repurchase program on Tuesday, September 3rd that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership 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.