Sequoia Financial Advisors LLC Grows Stock Holdings in ATI Inc. (NYSE:ATI)

Sequoia Financial Advisors LLC lifted its stake in ATI Inc. (NYSE:ATI) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,383 shares of the basic materials company’s stock after buying an additional 172 shares during the period. Sequoia Financial Advisors LLC’s holdings in ATI were worth $360,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. First Trust Direct Indexing L.P. boosted its position in shares of ATI by 4.3% in 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 purchasing an additional 239 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in ATI by 3.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 23,092 shares of the basic materials company’s stock worth $1,182,000 after buying an additional 663 shares during the period. Janney Montgomery Scott LLC boosted its holdings in ATI by 68.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 27,473 shares of the basic materials company’s stock worth $1,406,000 after buying an additional 11,149 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of ATI by 0.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 136,089 shares of the basic materials company’s stock valued at $6,964,000 after purchasing an additional 745 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in shares of ATI during the 1st quarter valued at about $452,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ATI shares. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. 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. Benchmark reaffirmed a “buy” rating and set a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. Susquehanna assumed coverage on shares of ATI in a research note on Thursday, September 5th. They set a “positive” rating and a $75.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, ATI currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.43.

ATI Stock Performance

NYSE:ATI opened at $63.22 on Tuesday. The stock has a market capitalization of $7.87 billion, a P/E ratio of 24.79, a PEG ratio of 1.38 and a beta of 1.04. ATI Inc. has a fifty-two week low of $36.70 and a fifty-two week high of $68.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.07 and a current ratio of 2.13. The company has a 50 day moving average price of $63.37 and a 200 day moving average price of $60.20.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping 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 analyst estimates of $1.11 billion. During the same period last year, the business earned $0.59 EPS. ATI’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts forecast that ATI Inc. will post 2.47 EPS for the current year.

ATI announced that its Board of Directors has authorized a share buyback 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 a sign that the company’s board believes its shares are undervalued.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the transaction, the chairman now owns 486,443 shares of the company’s stock, valued at $30,271,347.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.05% of the company’s stock.

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.