Bleakley Financial Group LLC Buys Shares of 3,577 ATI Inc. (NYSE:ATI)

Bleakley Financial Group LLC bought a new stake in ATI Inc. (NYSE:ATI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,577 shares of the basic materials company’s stock, valued at approximately $239,000.

Several other institutional investors also recently bought and sold shares of ATI. Millennium Management LLC boosted its stake in ATI by 165.1% in the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock valued at $107,846,000 after acquiring an additional 1,211,273 shares in the last quarter. Capital World Investors raised its stake in ATI by 43.9% in the first quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock valued at $145,372,000 after buying an additional 866,310 shares during the last quarter. Senator Investment Group LP raised its stake in ATI by 167.6% in the second quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company’s stock valued at $49,414,000 after buying an additional 558,138 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in ATI in the second quarter valued at about $28,896,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in ATI in the second quarter valued at about $15,869,000.

Insider Activity

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the transaction, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. BTIG Research started coverage on shares of ATI in a research note on Wednesday, June 26th. They set a “buy” rating and a $70.00 price target on the stock. Benchmark restated a “buy” rating and set a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. Susquehanna initiated coverage on ATI in a research note on Thursday, September 5th. They set a “positive” rating and a $75.00 price target on the stock. Finally, KeyCorp boosted their price target on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.43.

ATI Trading Down 0.4 %

Shares of NYSE:ATI opened at $62.86 on Thursday. The company has a market capitalization of $7.82 billion, a PE ratio of 25.24, a PEG ratio of 1.42 and a beta of 1.04. ATI Inc. has a 12-month low of $36.05 and a 12-month high of $68.92. The business has a 50 day moving average of $63.52 and a two-hundred day moving average of $59.90. 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 (NYSE:ATI) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts forecast that ATI Inc. will post 2.47 EPS for the current year.

ATI declared that its Board of Directors has initiated a share repurchase plan 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 buy up to 9.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.