1,578 Shares in ATI Inc. (NYSE:ATI) Purchased by Quest Partners LLC

Quest Partners LLC acquired a new stake in ATI Inc. (NYSE:ATI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,578 shares of the basic materials company’s stock, valued at approximately $88,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. acquired a new stake in ATI in the 1st quarter valued at $51,000. EverSource Wealth Advisors LLC grew its position in shares of ATI by 294.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 1,010 shares during the period. GAMMA Investing LLC increased its stake in shares of ATI by 46.5% during the first quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 593 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its position in shares of ATI by 211.5% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 1,800 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its stake in ATI by 103,225.0% in the 4th quarter. TFO Wealth Partners LLC now owns 4,133 shares of the basic materials company’s stock valued at $182,000 after buying an additional 4,129 shares in the last quarter.

ATI Trading Up 0.4 %

Shares of ATI stock opened at $61.83 on Wednesday. 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 Inc. has a twelve month low of $35.03 and a twelve month high of $68.92. The company’s 50-day moving average price is $62.19 and its 200-day moving average price is $57.29. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 1.52 and a beta of 1.04.

ATI (NYSE:ATI) last issued its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS 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 company 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 firm earned $0.59 earnings per share. ATI’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts predict that ATI Inc. will post 2.48 earnings per share for the current year.

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. BTIG Research started coverage on ATI in a research note on Wednesday, June 26th. They set a “buy” rating and a $70.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price objective on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Northcoast Research cut shares of ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. Finally, KeyCorp raised their price target on shares of ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $74.00.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was 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. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.71% of the stock is currently owned by insiders.

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.