Soros Fund Management LLC increased its position in ATI Inc. (NYSE:ATI - Free Report) by 11.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 197,456 shares of the basic materials company's stock after purchasing an additional 20,409 shares during the quarter. Soros Fund Management LLC owned approximately 0.14% of ATI worth $13,212,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of ATI. Quarry LP acquired a new stake in ATI during the 2nd quarter valued at $26,000. UMB Bank n.a. boosted 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 purchasing an additional 791 shares during the period. Quest Partners LLC acquired a new position in ATI in the 2nd quarter valued at $88,000. nVerses Capital LLC acquired a new position in shares of ATI in the second quarter valued at about $205,000. Finally, Forum Financial Management LP acquired a new stake in ATI in the 2nd quarter worth about $211,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on ATI shares. StockNews.com downgraded shares of ATI from a "hold" rating to a "sell" rating in a research report on Monday. Susquehanna reduced their target price on 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 boosted their price target on ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective 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. Finally, KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $73.71.
Check Out Our Latest Stock Report on ATI
ATI Price Performance
ATI stock traded down $1.32 during trading on Friday, reaching $57.16. 522,055 shares of the company were exchanged, compared to its average volume of 1,437,536. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 2.06 and a beta of 1.09. The company has a 50-day moving average of $60.37 and a two-hundred day moving average of $60.55.
ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The firm's revenue was up 2.5% on a year-over-year basis. As a group, equities analysts predict that ATI Inc. will post 2.27 earnings per share for the current fiscal year.
ATI announced that its board has approved a share repurchase plan on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.
Insider Transactions at ATI
In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the business's 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 sale, the chairman now owns 486,443 shares of the company's stock, valued at $30,271,347.89. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.71% of the company's stock.
About ATI
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Free Report)
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.
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