Two Sigma Advisers LP Has $27.47 Million Stock Position in ATI Inc. (NYSE:ATI)

Two Sigma Advisers LP lifted its holdings in ATI Inc. (NYSE:ATI - Free Report) by 11.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 410,598 shares of the basic materials company's stock after purchasing an additional 42,500 shares during the period. Two Sigma Advisers LP owned about 0.29% of ATI worth $27,473,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its position in shares of ATI by 3.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company's stock worth $360,000 after purchasing an additional 172 shares during the period. Beck Capital Management LLC lifted its position in shares of ATI by 0.8% in the 2nd quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company's stock worth $1,898,000 after purchasing an additional 262 shares during the period. KBC Group NV lifted its position in shares of ATI by 12.9% in the 3rd quarter. KBC Group NV now owns 3,362 shares of the basic materials company's stock worth $225,000 after purchasing an additional 385 shares during the period. Souders Financial Advisors lifted its position in shares of ATI by 6.1% in the 3rd quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company's stock worth $477,000 after purchasing an additional 411 shares during the period. Finally, Quarry LP lifted its position in shares of ATI by 86.4% in the 3rd quarter. Quarry LP now owns 889 shares of the basic materials company's stock worth $59,000 after purchasing an additional 412 shares during the period.

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the company's stock in a transaction dated 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 transaction, the chairman now directly owns 486,443 shares in the company, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tina Killough Busch sold 2,598 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total transaction of $155,931.96. Following the transaction, the senior vice president now directly owns 21,553 shares of the company's stock, valued at approximately $1,293,611.06. This represents a 10.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,598 shares of company stock worth $4,726,682. 0.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ATI has been the subject of several recent analyst reports. StockNews.com lowered shares of ATI from a "hold" rating to a "sell" rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. boosted 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. Susquehanna reduced their price objective on shares of ATI from $75.00 to $70.00 and set a "positive" rating for the company in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Finally, KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Two investment analysts have 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.com, the stock has a consensus rating of "Hold" and an average price target of $73.71.

ATI Trading Down 1.6 %

ATI stock traded down $0.93 during midday trading on Friday, hitting $57.55. 1,216,955 shares of the stock were exchanged, compared to its average volume of 1,151,966. ATI Inc. has a fifty-two week low of $38.04 and a fifty-two week high of $68.92. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.07 and a beta of 1.09. The stock's 50-day simple moving average is $60.19 and its 200 day simple moving average is $60.53. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97.

ATI (NYSE:ATI - Get Free Report) last announced 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). ATI had a net margin of 8.85% and a return on equity of 21.39%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. ATI's revenue was up 2.5% on a year-over-year basis. On average, equities analysts anticipate that ATI Inc. will post 2.27 EPS for the current year.

ATI declared that its Board of Directors has initiated a stock buyback program on Tuesday, September 3rd that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

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.