Versor Investments LP Acquires 14,687 Shares of ATI Inc. (NYSE:ATI)

Versor Investments LP grew its position in ATI Inc. (NYSE:ATI - Free Report) by 345.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,943 shares of the basic materials company's stock after buying an additional 14,687 shares during the quarter. Versor Investments LP's holdings in ATI were worth $1,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of ATI. Capital International Investors lifted its position in ATI by 1.3% during the 1st 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 period. Vanguard Group Inc. boosted its holdings in ATI by 0.9% in the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company's stock valued at $733,720,000 after acquiring an additional 132,478 shares during the last quarter. Capital World Investors raised its position in ATI by 43.9% in the first 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 period. Dimensional Fund Advisors LP increased its position in shares of ATI by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company's stock worth $139,003,000 after acquiring an additional 102,691 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in ATI by 165.1% in the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company's stock valued at $107,846,000 after buying an additional 1,211,273 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Susquehanna decreased their target price on ATI from $75.00 to $70.00 and set a "positive" rating for the company in a research report on Wednesday, October 30th. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Benchmark reiterated a "buy" rating and set a $80.00 price objective on shares of ATI in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their target price on ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, ATI currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.71.

ATI Price Performance

NYSE:ATI traded down $0.74 during trading hours on Tuesday, hitting $58.76. The company's stock had a trading volume of 1,399,851 shares, compared to its average volume of 1,468,183. 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 $8.38 billion, a P/E ratio of 22.89, a PEG ratio of 2.01 and a beta of 1.08. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The stock has a fifty day simple moving average of $61.53 and a 200-day simple moving average of $60.58.

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

ATI declared that its Board of Directors has initiated a stock buyback plan on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.61, for a total value of $1,540,250.00. Following the completion of the sale, the chairman now owns 511,443 shares of the company's stock, valued at approximately $31,510,003.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

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.