ATI Inc. (NYSE:ATI) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lowered its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 22.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,942 shares of the basic materials company's stock after selling 17,741 shares during the quarter. Van ECK Associates Corp's holdings in ATI were worth $3,768,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Capital International Investors boosted its position in ATI by 1.3% during the first quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company's stock worth $788,524,000 after acquiring an additional 203,012 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of ATI by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company's stock valued at $733,720,000 after purchasing an additional 132,478 shares during the last quarter. Capital World Investors boosted its holdings in shares of ATI by 43.9% in the 1st quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company's stock valued at $145,372,000 after purchasing an additional 866,310 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ATI by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company's stock valued at $139,003,000 after purchasing an additional 102,691 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of ATI by 165.1% in the 2nd quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company's stock valued at $107,846,000 after purchasing an additional 1,211,273 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have weighed in on ATI shares. Benchmark reiterated a "buy" rating and issued a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted 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. JPMorgan Chase & Co. lifted 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. KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Finally, Susquehanna cut their target price on shares of ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $73.71.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.71% of the stock is currently owned by insiders.

ATI Trading Up 1.7 %

Shares of ATI stock traded up $0.96 during mid-day trading on Friday, reaching $58.29. The company's stock had a trading volume of 1,651,702 shares, compared to its average volume of 1,754,463. The company's 50 day simple moving average is $61.62 and its 200-day simple moving average is $60.43. ATI Inc. has a 12-month low of $38.04 and a 12-month high of $68.92. 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 $8.31 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (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 firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the firm earned $0.55 EPS. The business's quarterly revenue was up 2.5% on a year-over-year basis. On average, research analysts predict that ATI Inc. will post 2.27 EPS for the current fiscal year.

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