XTX Topco Ltd Has $934,000 Stake in ATI Inc. (NYSE:ATI)

XTX Topco Ltd lessened its position in ATI Inc. (NYSE:ATI - Free Report) by 55.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,955 shares of the basic materials company's stock after selling 17,635 shares during the period. XTX Topco Ltd's holdings in ATI were worth $934,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Mountaineer Partners Management LLC grew its holdings in shares of ATI by 4,401.2% during the third quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company's stock valued at $629,683,000 after buying an additional 9,201,818 shares in the last quarter. Millennium Management LLC raised its stake 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 acquiring an additional 1,211,273 shares in the last quarter. Senator Investment Group LP grew its stake in ATI by 167.6% in the 2nd quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company's stock valued at $49,414,000 after buying an additional 558,138 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in ATI during the 2nd quarter worth $28,896,000. Finally, Forest Avenue Capital Management LP bought a new stake in ATI during the third quarter valued at about $28,700,000.

Analysts Set New Price Targets

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

ATI Price Performance

Shares of NYSE:ATI traded up $0.21 during midday trading on Wednesday, hitting $57.30. The stock had a trading volume of 1,261,193 shares, compared to its average volume of 1,440,636. 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 company has a market capitalization of $8.17 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 1.99 and a beta of 1.09. The company's 50-day moving average price is $59.81 and its 200-day moving average price is $60.49. ATI Inc. has a fifty-two week low of $38.04 and a fifty-two week high of $68.92.

ATI (NYSE:ATI - Get Free Report) last issued its 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 business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business posted $0.55 EPS. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities research analysts predict that ATI Inc. will post 2.27 EPS for the current fiscal year.

ATI declared that its Board of Directors has approved a stock buyback program 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 repurchase up to 9.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at ATI

In related news, SVP Tina Killough Busch sold 2,598 shares of ATI 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 sale, the senior vice president now directly owns 21,553 shares in the company, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 486,443 shares of the company's stock, 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. Insiders have sold a total of 77,598 shares of company stock worth $4,726,682 over the last 90 days. Insiders own 0.71% of the company's stock.

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.