4,700 Shares in ATI Inc. (NYSE:ATI) Bought by Symmetry Investments LP

Symmetry Investments LP purchased a new stake in ATI Inc. (NYSE:ATI) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,700 shares of the basic materials company’s stock, valued at approximately $261,000.

Other large investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. acquired a new stake in ATI in the 1st quarter valued at about $51,000. EverSource Wealth Advisors LLC boosted its stake in shares of ATI by 294.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 1,010 shares during the period. Quest Partners LLC bought a new position in shares of ATI during the 2nd quarter worth approximately $88,000. GAMMA Investing LLC increased its holdings 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 worth $96,000 after acquiring an additional 593 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its stake in ATI by 211.5% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 1,800 shares during the period.

ATI Trading Down 1.3 %

Shares of ATI stock opened at $63.84 on Friday. The stock has a market cap of $7.95 billion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. ATI Inc. has a 1 year low of $35.03 and a 1 year high of $68.92. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. The stock has a 50 day simple moving average of $62.60 and a 200 day simple moving average of $57.61.

ATI (NYSE:ATI) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. ATI had a return on equity of 23.05% and a net margin of 8.74%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company posted $0.59 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts predict that ATI Inc. will post 2.48 earnings per share for the current fiscal year.

ATI declared that its board has approved a share repurchase 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other 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 filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. 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 for the company. Susquehanna assumed coverage on shares of ATI in a report on Thursday, September 5th. They set a “positive” rating and a $75.00 target price for the company. Northcoast Research cut shares of ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. Benchmark restated a “buy” rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.00.

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.