Wellington Management Group LLP Buys 61,873 Shares of ATI Inc. (NYSE:ATI)

Wellington Management Group LLP lifted its stake in ATI Inc. (NYSE:ATI - Free Report) by 12.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 560,711 shares of the basic materials company's stock after acquiring an additional 61,873 shares during the period. Wellington Management Group LLP owned approximately 0.39% of ATI worth $37,517,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC lifted its holdings in shares of ATI by 202.7% during the second quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company's stock valued at $1,522,000 after acquiring an additional 18,381 shares during the period. Assenagon Asset Management S.A. grew its position in shares of ATI by 17.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 528,615 shares of the basic materials company's stock worth $29,312,000 after buying an additional 79,285 shares during the period. Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 102,691 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of ATI during the 3rd quarter worth about $765,000. Finally, WINTON GROUP Ltd grew its position in shares of ATI by 138.1% during the 2nd quarter. WINTON GROUP Ltd now owns 32,485 shares of the basic materials company's stock worth $1,801,000 after buying an additional 18,842 shares during the period.

ATI Stock Up 1.6 %

Shares of ATI stock traded up $0.91 on Friday, reaching $56.92. 503,941 shares of the company were exchanged, compared to its average volume of 1,434,208. ATI Inc. has a one year low of $38.04 and a one year high of $68.92. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 1.98 and a beta of 1.09. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average of $59.49 and a 200 day moving average of $60.44.

ATI (NYSE:ATI - Get Free Report) last announced 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 in the prior year, the company earned $0.55 EPS. The company's revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts forecast that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its board has approved a stock repurchase plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the basic materials company to repurchase up to 9.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price objective on ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Susquehanna cut their target price on ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research note on Wednesday, October 30th. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Finally, StockNews.com upgraded ATI from a "sell" rating to a "hold" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $73.71.

Insider Activity at ATI

In other ATI news, SVP Tina Killough Busch sold 2,598 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the transaction, the senior vice president now directly owns 21,553 shares of the company's stock, valued at $1,293,611.06. This represents a 10.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, the chairman now directly owns 486,443 shares in the company, valued at approximately $30,271,347.89. This trade represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,598 shares of company stock worth $4,726,682. Company insiders own 0.71% of the company's stock.

ATI Company 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.