ATI Inc. (NYSE:ATI) Shares Bought by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its stake in shares of ATI Inc. (NYSE:ATI) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,100 shares of the basic materials company’s stock after purchasing an additional 753 shares during the period. Glenmede Trust Co. NA’s holdings in ATI were worth $1,412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in ATI during the second quarter worth approximately $26,000. UMB Bank n.a. raised its holdings in shares of ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 791 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of ATI by 294.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 1,010 shares during the period. Quest Partners LLC purchased a new position in ATI during the second quarter worth about $88,000. Finally, GAMMA Investing LLC boosted its holdings in ATI by 66.0% in the 3rd quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 1,330 shares during the last quarter.

Wall Street Analyst Weigh In

ATI has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their target price on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Benchmark reaffirmed a “buy” rating and set a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Finally, Susquehanna cut their price target on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.71.

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction on 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 sale, the chairman now directly owns 511,443 shares in the company, valued at approximately $31,510,003.23. The trade was a 4.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.71% of the company’s stock.

ATI Price Performance

ATI stock opened at $60.17 on Monday. The business has a 50 day simple moving average of $60.82 and a 200-day simple moving average of $60.58. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The company has a market capitalization of $8.58 billion, a P/E ratio of 23.14, a PEG ratio of 2.08 and a beta of 1.08. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that ATI Inc. will post 2.27 EPS for the current year.

ATI announced that its board has approved a share repurchase program on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.