Stifel Financial Corp Has $1.51 Million Holdings in ATI Inc. (NYSE:ATI)

Stifel Financial Corp decreased its holdings in shares of ATI Inc. (NYSE:ATI) by 3.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 22,634 shares of the basic materials company’s stock after selling 930 shares during the quarter. Stifel Financial Corp’s holdings in ATI were worth $1,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of ATI in the 2nd quarter valued at approximately $26,000. UMB Bank n.a. raised its position 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 worth $62,000 after acquiring an additional 791 shares during the last quarter. Quest Partners LLC acquired a new position in ATI during the 2nd quarter valued at about $88,000. GAMMA Investing LLC grew its holdings in ATI by 66.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock worth $224,000 after acquiring an additional 1,330 shares during the period. Finally, KBC Group NV increased its holdings in ATI by 12.9% in the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock valued at $225,000 after purchasing an additional 385 shares during the last quarter.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the transaction, the chairman now directly owns 486,443 shares in the company, valued at $30,271,347.89. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Tina Killough Busch sold 2,598 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the sale, the senior vice president now directly owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. The trade was a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,598 shares of company stock worth $3,186,432 in the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

ATI has been the topic of several analyst reports. StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a report on Wednesday, December 11th. Susquehanna reduced their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, ATI has an average rating of “Moderate Buy” and a consensus price target of $73.71.

ATI Stock Performance

NYSE:ATI opened at $54.46 on Friday. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The stock has a market cap of $7.77 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 1.95 and a beta of 1.09. The stock’s 50-day moving average is $58.45 and its 200-day moving average is $60.20.

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

ATI declared that its Board of Directors has initiated a stock buyback plan 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 plans are typically an indication that the company’s leadership believes its shares are 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.