ATI Inc. (NYSE:ATI) Shares Acquired by Creative Planning

Creative Planning lifted its position in shares of ATI Inc. (NYSE:ATI) by 12.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,894 shares of the basic materials company’s stock after purchasing an additional 3,179 shares during the period. Creative Planning’s holdings in ATI were worth $1,866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of ATI by 202.7% during the second quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company’s stock worth $1,522,000 after purchasing an additional 18,381 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in ATI in the 1st quarter valued at about $763,000. First Hawaiian Bank acquired a new position in ATI in the 2nd quarter valued at about $757,000. Assenagon Asset Management S.A. increased its position in ATI by 17.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 528,615 shares of the basic materials company’s stock valued at $29,312,000 after acquiring an additional 79,285 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in ATI by 20.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 126,978 shares of the basic materials company’s stock valued at $6,496,000 after acquiring an additional 21,887 shares during the period.

Insider Transactions at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s 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 sale, the chairman now owns 486,443 shares of the company’s stock, valued at $30,271,347.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.05% of the company’s stock.

ATI Price Performance

Shares of ATI opened at $63.22 on Tuesday. The stock’s 50 day moving average is $63.37 and its two-hundred day moving average is $60.20. The firm has a market capitalization of $7.87 billion, a PE ratio of 24.79, a P/E/G ratio of 1.38 and a beta of 1.04. 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 $36.70 and a twelve month high of $68.92.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 EPS. Research analysts anticipate that ATI Inc. will post 2.47 earnings per share for the current year.

ATI announced that its board has initiated a share repurchase plan 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 reacquire up to 9.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Benchmark restated a “buy” rating and issued a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. Finally, Susquehanna began coverage on ATI in a report on Thursday, September 5th. They issued a “positive” rating and a $75.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.43.

ATI Company 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.