ATI Inc. (NYSE:ATI) Holdings Lowered by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its stake in ATI Inc. (NYSE:ATI - Free Report) by 58.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,984 shares of the basic materials company's stock after selling 42,940 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in ATI were worth $2,073,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mountaineer Partners Management LLC grew its holdings in ATI by 4,401.2% during the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company's stock valued at $629,683,000 after purchasing an additional 9,201,818 shares in the last quarter. Millennium Management LLC boosted its position in 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 buying an additional 1,211,273 shares during the last quarter. Senator Investment Group LP grew its stake in shares of ATI by 167.6% during the second quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company's stock valued at $49,414,000 after acquiring an additional 558,138 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of ATI during the second quarter worth about $28,896,000. Finally, Forest Avenue Capital Management LP acquired a new position in shares of ATI in the third quarter worth about $28,700,000.

Insider Activity

In other ATI news, SVP Tina Killough Busch sold 2,598 shares of the firm'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 value of $155,931.96. Following the sale, the senior vice president now owns 21,553 shares in the company, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the business'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 transaction, the chairman now owns 511,443 shares of the company's stock, valued at approximately $31,510,003.23. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,598 shares of company stock valued at $4,726,682. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ATI has been the subject of a number of recent analyst reports. Susquehanna dropped their price objective on ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased 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. 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. StockNews.com lowered shares of ATI from a "hold" rating to a "sell" rating in a research note on Monday, December 2nd. Finally, KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Two investment analysts have 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. Based on data from MarketBeat, ATI presently has a consensus rating of "Hold" and a consensus target price of $73.71.

ATI Stock Performance

ATI traded up $0.39 on Tuesday, hitting $57.08. 1,565,404 shares of the company's stock were exchanged, compared to its average volume of 1,441,183. 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 stock has a fifty day moving average of $59.81 and a two-hundred day moving average of $60.49. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The firm has a market cap of $8.14 billion, a PE ratio of 21.95, a P/E/G ratio of 1.99 and a beta of 1.09.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly 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 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 analyst estimates of $1.12 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts anticipate that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

ATI declared that its Board of Directors has initiated a share buyback program on Tuesday, September 3rd that allows the company to buyback $700.00 million in shares. This buyback authorization allows the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

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.