Thrivent Financial for Lutherans cut its stake in ATI Inc. (NYSE:ATI - Free Report) by 98.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,741 shares of the basic materials company's stock after selling 7,905,614 shares during the period. Thrivent Financial for Lutherans owned 0.07% of ATI worth $6,540,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in ATI in the second quarter valued at approximately $26,000. UMB Bank n.a. boosted its holdings in ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company's stock valued at $62,000 after acquiring an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in ATI by 294.5% in the first 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 last quarter. Quest Partners LLC bought a new position in shares of ATI during the 2nd quarter worth approximately $88,000. Finally, nVerses Capital LLC bought a new position in shares of ATI during the 2nd quarter worth approximately $205,000.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Benchmark restated a "buy" rating and set a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft increased their price target on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Finally, Susquehanna cut their price target on ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, ATI currently has an average rating of "Moderate Buy" and an average target price of $73.71.
Check Out Our Latest Stock Report on ATI
Insider Activity at ATI
In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the sale, the chairman now directly owns 486,443 shares of the company's stock, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is currently owned by insiders.
ATI Price Performance
Shares of NYSE:ATI opened at $59.30 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The stock's 50 day moving average is $61.08 and its 200-day moving average is $60.59. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.01 and a beta of 1.08.
ATI (NYSE:ATI - Get Free Report) last issued its 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). ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company earned $0.55 earnings per share. ATI's revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts forecast that ATI Inc. will post 2.27 EPS 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 shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.
ATI Company Profile
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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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