Vontobel Holding Ltd. Sells 168 Shares of ATI Inc. (NYSE:ATI)

Vontobel Holding Ltd. lowered its holdings in shares of ATI Inc. (NYSE:ATI) by 1.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,928 shares of the basic materials company’s stock after selling 168 shares during the period. Vontobel Holding Ltd.’s holdings in ATI were worth $597,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP bought a new position in ATI in the second quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of ATI during the 1st quarter valued at approximately $51,000. UMB Bank n.a. grew its holdings in shares of ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in 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 purchasing an additional 1,010 shares in the last quarter. Finally, Quest Partners LLC bought a new position in ATI in the 2nd quarter valued at approximately $88,000.

ATI Stock Performance

Shares of ATI stock opened at $63.38 on Tuesday. The stock has a market capitalization of $7.89 billion, a PE ratio of 25.45, a PEG ratio of 1.42 and a beta of 1.04. The business’s 50 day simple moving average is $63.49 and its 200 day simple moving average is $59.73. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. ATI Inc. has a one year low of $35.03 and a one year high of $68.92.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. ATI had a net margin of 8.74% and a return on equity of 23.05%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm posted $0.59 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts forecast that ATI Inc. will post 2.47 earnings per share for the current year.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BTIG Research assumed coverage on shares of ATI in a research note on Wednesday, June 26th. They set a “buy” rating and a $70.00 target price on the stock. KeyCorp upped their target price on ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. JPMorgan Chase & Co. lifted their price target on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Benchmark reaffirmed a “buy” rating and issued a $80.00 price objective on shares of ATI in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, ATI has an average rating of “Moderate Buy” and a consensus price target of $74.43.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the transaction, the chairman now directly owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.71% of the company’s stock.

About ATI

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.