ATI Inc. (NYSE:ATI) Position Lowered by Tidal Investments LLC

Tidal Investments LLC reduced its position in ATI Inc. (NYSE:ATI) by 22.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,865 shares of the basic materials company’s stock after selling 2,315 shares during the quarter. Tidal Investments LLC’s holdings in ATI were worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ATI. Geode Capital Management LLC raised its holdings in shares of ATI by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock worth $130,709,000 after purchasing an additional 5,165 shares during the period. MML Investors Services LLC raised its stake in ATI by 16.7% during the third quarter. MML Investors Services LLC now owns 6,311 shares of the basic materials company’s stock worth $422,000 after acquiring an additional 904 shares during the period. Orion Portfolio Solutions LLC raised its stake in ATI by 8.3% during the third quarter. Orion Portfolio Solutions LLC now owns 8,300 shares of the basic materials company’s stock worth $555,000 after acquiring an additional 633 shares during the period. National Bank of Canada FI acquired a new position in ATI in the third quarter valued at approximately $1,800,000. Finally, Wellington Management Group LLP grew its holdings in shares of ATI by 12.4% during the third quarter. Wellington Management Group LLP now owns 560,711 shares of the basic materials company’s stock valued at $37,517,000 after purchasing an additional 61,873 shares during the last quarter.

ATI Stock Up 0.4 %

NYSE ATI opened at $54.46 on Monday. ATI Inc. has a 12 month low of $38.04 and a 12 month high of $68.92. The company has a market capitalization of $7.77 billion, a P/E ratio of 20.95, a PEG ratio of 1.95 and a beta of 1.09. The company’s 50 day simple moving average is $58.45 and its 200 day simple moving average is $60.21. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44.

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

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

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction 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. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Tina Killough Busch sold 2,598 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the completion of the sale, the senior vice president now directly owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. This represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,598 shares of company stock valued at $3,186,432. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Susquehanna cut their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a research report on Wednesday, December 11th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.71.

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.