Inspire Investing LLC Sells 724 Shares of ATI Inc. (NYSE:ATI)

Inspire Investing LLC decreased its holdings in ATI Inc. (NYSE:ATI) by 10.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,280 shares of the basic materials company’s stock after selling 724 shares during the quarter. Inspire Investing LLC’s holdings in ATI were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of ATI in the first quarter valued at $51,000. EverSource Wealth Advisors LLC increased its position in ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 1,010 shares in the last quarter. Quest Partners LLC bought a new position in shares of ATI in the second quarter worth about $88,000. GAMMA Investing LLC grew 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 valued at $96,000 after purchasing an additional 593 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of ATI by 211.5% in 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 in the last quarter.

ATI Price Performance

ATI stock opened at $64.64 on Wednesday. The firm has a market capitalization of $8.04 billion, a P/E ratio of 25.96, a PEG ratio of 1.51 and a beta of 1.04. The business has a 50-day moving average of $62.77 and a 200-day moving average of $57.87. 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 1 year low of $35.03 and a 1 year high of $68.92.

ATI (NYSE:ATI) last issued its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, equities analysts anticipate that ATI Inc. will post 2.48 EPS for the current year.

ATI announced that its board has initiated a stock buyback plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

ATI has been the topic of several research reports. Benchmark reaffirmed a “buy” rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. KeyCorp raised 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. JPMorgan Chase & Co. upped their target price on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report 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, BTIG Research initiated coverage on shares of ATI in a report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, ATI currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated 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 transaction, the chairman now directly owns 511,443 shares in the company, valued at $31,510,003.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.71% of the stock is owned by corporate insiders.

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.