ATI Inc. (NYSE:ATI) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC decreased its position in shares of ATI Inc. (NYSE:ATI) by 27.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,680 shares of the basic materials company’s stock after selling 4,845 shares during the period. AQR Capital Management LLC’s holdings in ATI were worth $703,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC grew its stake in ATI by 202.7% during the 2nd quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company’s stock valued at $1,522,000 after acquiring an additional 18,381 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of ATI by 31.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,306,784 shares of the basic materials company’s stock valued at $59,419,000 after purchasing an additional 315,506 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of ATI during the 1st quarter worth about $763,000. First Hawaiian Bank bought a new stake in shares of ATI in the 2nd quarter valued at approximately $757,000. Finally, Assenagon Asset Management S.A. raised its stake in ATI by 17.6% during the second quarter. Assenagon Asset Management S.A. now owns 528,615 shares of the basic materials company’s stock worth $29,312,000 after acquiring an additional 79,285 shares in the last quarter.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’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 transaction of $1,540,250.00. Following the completion of the sale, the chairman now directly owns 511,443 shares in the company, valued at $31,510,003.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.71% of the stock is owned by company insiders.

ATI Price Performance

NYSE:ATI opened at $63.56 on Monday. ATI Inc. has a 12-month low of $35.03 and a 12-month high of $68.92. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 1.42 and a beta of 1.04. The stock’s 50 day moving average price is $63.28 and its two-hundred day moving average price is $59.30. The company has a quick ratio of 1.07, a current ratio of 2.13 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, beating the consensus estimate of $0.58 by $0.02. ATI had a return on equity of 23.05% and a net margin of 8.74%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm posted $0.59 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that ATI Inc. will post 2.47 earnings per share for the current 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 outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. KeyCorp increased their price target on ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft increased their target price on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Benchmark reiterated a “buy” rating and issued a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. Susquehanna began coverage on ATI in a research report on Thursday, September 5th. They issued a “positive” rating and a $75.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.43.

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.