ATI Inc. (NYSE:ATI) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC reduced its stake in ATI Inc. (NYSE:ATI - Free Report) by 41.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,360 shares of the basic materials company's stock after selling 18,527 shares during the period. Verition Fund Management LLC's holdings in ATI were worth $1,764,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ATI. Dimensional Fund Advisors LP increased its position in ATI by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company's stock worth $139,003,000 after purchasing an additional 102,691 shares during the period. Millennium Management LLC grew its holdings in ATI by 165.1% during the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company's stock worth $107,846,000 after acquiring an additional 1,211,273 shares during the period. Federated Hermes Inc. raised its position in ATI by 4.3% in the second quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company's stock worth $94,412,000 after acquiring an additional 70,812 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ATI by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company's stock valued at $91,750,000 after acquiring an additional 24,224 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of ATI by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,849 shares of the basic materials company's stock worth $75,792,000 after purchasing an additional 14,664 shares in the last quarter.

Insiders Place Their Bets

In related news, SVP Tina Killough Busch sold 2,598 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total transaction of $155,931.96. Following the completion of the transaction, the senior vice president now owns 21,553 shares of the company's stock, valued at approximately $1,293,611.06. This represents a 10.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction 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 in the company, valued at approximately $31,510,003.23. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,598 shares of company stock valued at $4,726,682 in the last quarter. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on ATI. JPMorgan Chase & Co. raised their price objective on shares of ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. StockNews.com cut ATI from a "hold" rating to a "sell" rating in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Finally, Susquehanna dropped their price target on ATI from $75.00 to $70.00 and set a "positive" rating for the company in a research report on Wednesday, October 30th. Two research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $73.71.

ATI Price Performance

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

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 analysts' consensus estimates of $0.66 by ($0.06). The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. On average, analysts anticipate that ATI Inc. will post 2.27 EPS for the current year.

ATI declared that its Board of Directors has authorized a share buyback plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to reacquire up to 9.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management 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.