ATI Inc. (NYSE:ATI) Shares Sold by Blue Trust Inc.

Blue Trust Inc. cut its holdings in shares of ATI Inc. (NYSE:ATI) by 71.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,101 shares of the basic materials company’s stock after selling 2,817 shares during the period. Blue Trust Inc.’s holdings in ATI were worth $74,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ATI. Bleakley Financial Group LLC bought a new stake in ATI during the 3rd quarter valued at $239,000. nVerses Capital LLC increased its holdings in shares of ATI by 121.6% during the third quarter. nVerses Capital LLC now owns 8,200 shares of the basic materials company’s stock valued at $549,000 after purchasing an additional 4,500 shares during the period. Creative Planning raised its stake in shares of ATI by 12.9% during the third quarter. Creative Planning now owns 27,894 shares of the basic materials company’s stock valued at $1,866,000 after purchasing an additional 3,179 shares in the last quarter. UMB Bank n.a. raised its stake in shares of ATI by 557.0% during the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 791 shares in the last quarter. Finally, Wedmont Private Capital acquired a new stake in ATI in the third quarter worth about $234,000.

Analyst Ratings Changes

A number of analysts have commented on ATI shares. Benchmark restated a “buy” rating and set a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. Susquehanna lowered their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday. KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. 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. Finally, JPMorgan Chase & Co. boosted their price objective on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, ATI currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.71.

ATI Price Performance

NYSE ATI opened at $54.19 on Thursday. ATI Inc. has a 1 year low of $36.70 and a 1 year high of $68.92. The business’s fifty day moving average is $63.02 and its two-hundred day moving average is $60.20. The stock has a market capitalization of $6.74 billion, a P/E ratio of 21.25, a P/E/G ratio of 1.38 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.

ATI (NYSE:ATI) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). ATI had a return on equity of 23.05% and a net margin of 8.74%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, research analysts forecast that ATI Inc. will post 2.47 earnings per share for the current fiscal year.

ATI announced that its board has initiated a share buyback plan on Tuesday, September 3rd that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

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 transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.05% of the stock is currently owned by company 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.