ATI Inc. (NYSE:ATI) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its stake in ATI Inc. (NYSE:ATI) by 11.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,515 shares of the basic materials company’s stock after selling 2,577 shares during the period. Commonwealth Equity Services LLC’s holdings in ATI were worth $1,138,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of ATI by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,722 shares of the basic materials company’s stock worth $105,394,000 after acquiring an additional 139,694 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of ATI by 12.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,901 shares of the basic materials company’s stock valued at $268,000 after purchasing an additional 634 shares in the last quarter. Norges Bank acquired a new stake in shares of ATI in the fourth quarter worth $55,855,000. UBS Group AG grew its holdings in shares of ATI by 156.8% during the fourth quarter. UBS Group AG now owns 157,369 shares of the basic materials company’s stock valued at $7,156,000 after buying an additional 96,078 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in ATI during the fourth quarter valued at $2,530,000.

Analyst Upgrades and Downgrades

ATI has been the topic of a number of research reports. BTIG Research started coverage on ATI in a report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 target price on the stock. Benchmark restated a “buy” rating and set a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Susquehanna started coverage on ATI in a research report on Thursday, September 5th. They issued a “positive” rating and a $75.00 target price on the stock. Finally, KeyCorp lifted their price target on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, ATI currently has an average rating of “Moderate Buy” and an average target price of $74.00.

ATI Stock Down 0.3 %

ATI opened at $61.61 on Tuesday. The firm has a market cap of $7.67 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. 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 business has a 50 day moving average price of $62.19 and a 200 day moving average price of $57.29. ATI Inc. has a twelve month low of $35.03 and a twelve month high of $68.92.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, topping 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 business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned $0.59 earnings per share. ATI’s revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts forecast that ATI Inc. will post 2.48 EPS for the current year.

ATI declared that its Board of Directors has approved a stock buyback program on Tuesday, September 3rd that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.