XTX Topco Ltd Makes New $1.75 Million Investment in ATI Inc. (NYSE:ATI)

XTX Topco Ltd purchased a new stake in ATI Inc. (NYSE:ATI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 31,590 shares of the basic materials company’s stock, valued at approximately $1,752,000.

A number of other hedge funds have also recently made changes to their positions in ATI. Benjamin F. Edwards & Company Inc. bought a new stake in ATI during the first quarter valued at $51,000. EverSource Wealth Advisors LLC raised its holdings in shares of ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 1,010 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of ATI in the 2nd quarter valued at about $88,000. GAMMA Investing LLC boosted its position in shares of ATI by 46.5% during the 1st quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock valued at $96,000 after acquiring an additional 593 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in shares of ATI by 211.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 1,800 shares in the last quarter.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $61.61, for a total value of $1,540,250.00. Following the completion of the transaction, the chairman now directly owns 511,443 shares in the company, valued at approximately $31,510,003.23. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

ATI Trading Up 3.9 %

ATI stock opened at $64.68 on Friday. ATI Inc. has a 12 month low of $35.03 and a 12 month high of $68.92. The company has a market capitalization of $8.05 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The business’s fifty day simple moving average is $62.36 and its two-hundred day simple moving average is $57.41. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. ATI’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. As a group, equities analysts predict that ATI Inc. will post 2.48 earnings per share for the current fiscal year.

ATI declared that its board has authorized a stock buyback program on Tuesday, September 3rd that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

ATI has been the topic of a number of recent analyst reports. KeyCorp raised their target price on shares of ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. BTIG Research initiated coverage on shares of ATI in a research report on Wednesday, June 26th. They set a “buy” rating and a $70.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Benchmark restated a “buy” rating and set a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, ATI currently has a consensus rating of “Moderate Buy” and an average target price of $74.00.

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.