Insight Wealth Strategies LLC Has $2.68 Million Stake in ATI Inc. (NYSE:ATI)

Insight Wealth Strategies LLC decreased its holdings in shares of ATI Inc. (NYSE:ATI) by 12.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,977 shares of the basic materials company’s stock after selling 5,437 shares during the quarter. Insight Wealth Strategies LLC’s holdings in ATI were worth $2,675,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ATI. PNC Financial Services Group Inc. boosted its stake in ATI by 0.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock worth $3,822,000 after acquiring an additional 216 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in ATI by 3.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock worth $364,000 after acquiring an additional 224 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in ATI by 4.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock worth $299,000 after acquiring an additional 239 shares during the last quarter. Beck Capital Management LLC boosted its stake in ATI by 0.8% during the 2nd quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock worth $1,898,000 after acquiring an additional 262 shares during the last quarter. Finally, Nvwm LLC boosted its stake in ATI by 2.1% during the 1st quarter. Nvwm LLC now owns 16,177 shares of the basic materials company’s stock worth $828,000 after acquiring an additional 334 shares during the last quarter.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the completion of the sale, the chairman now owns 511,443 shares of the company’s stock, valued at $31,510,003.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.71% of the stock is currently owned by company insiders.

ATI Stock Down 0.3 %

Shares of NYSE ATI traded down $0.21 during midday trading on Tuesday, reaching $64.43. The company’s stock had a trading volume of 99,152 shares, compared to its average volume of 1,431,123. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.60 and a beta of 1.04. ATI Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $68.92. The stock has a 50 day simple moving average of $63.46 and a 200-day simple moving average of $58.93. 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 released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts predict that ATI Inc. will post 2.48 earnings per share for the current year.

ATI declared that its board has approved a share repurchase program on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ATI. BTIG Research began coverage on shares of ATI in a research note on Wednesday, June 26th. They set a “buy” rating and a $70.00 price objective on the stock. Northcoast Research lowered shares of ATI from a “neutral” rating to a “sell” rating in a research note on Friday, June 14th. Benchmark reaffirmed a “buy” rating and issued a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, KeyCorp lifted their price target 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. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.43.

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.