ATI Inc. (NYSE:ATI) Position Increased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in shares of ATI Inc. (NYSE:ATI) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,506,609 shares of the basic materials company’s stock after purchasing an additional 102,691 shares during the period. Dimensional Fund Advisors LP owned about 2.01% of ATI worth $139,003,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ATI. Benjamin F. Edwards & Company Inc. bought a new stake in ATI during the first quarter valued at $51,000. EverSource Wealth Advisors LLC increased its stake in ATI by 294.5% during 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 last quarter. Quest Partners LLC bought a new stake in ATI during the second quarter valued at $88,000. GAMMA Investing LLC increased its stake in ATI by 46.5% during the first quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock valued at $96,000 after purchasing an additional 593 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its stake in ATI by 211.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock valued at $121,000 after purchasing an additional 1,800 shares during the last quarter.

ATI Stock Performance

ATI stock opened at $63.84 on Friday. The company has a market capitalization of $7.95 billion, a P/E ratio of 25.64, a PEG ratio of 1.51 and a beta of 1.04. The company has a 50-day simple moving average of $62.60 and a 200 day simple moving average of $57.61. ATI Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $68.92. 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 posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts predict that ATI Inc. will post 2.48 earnings per share for the current fiscal year.

ATI announced that its board has approved a share repurchase plan on Tuesday, September 3rd that permits the company to buyback $700.00 million in shares. This buyback authorization permits the basic materials company to purchase up to 9.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.61, for a total value of $1,540,250.00. Following the completion of the sale, the chairman now directly owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ATI has been the subject of several recent research reports. Northcoast Research lowered shares of ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. BTIG Research initiated coverage on shares of ATI in a research report on Wednesday, June 26th. They set a “buy” rating and a $70.00 price target for the company. KeyCorp upped their price target on shares of ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. upped their price target on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One investment 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.00.

ATI 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.