4,275 Shares in ATI Inc. (NYSE:ATI) Bought by Townsquare Capital LLC

Townsquare Capital LLC acquired a new position in shares of ATI Inc. (NYSE:ATI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,275 shares of the basic materials company’s stock, valued at approximately $286,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP bought a new stake in shares of ATI during the 2nd quarter worth $26,000. UMB Bank n.a. lifted its position 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 buying an additional 791 shares during the last quarter. Quest Partners LLC acquired a new position in ATI in the 2nd quarter worth about $88,000. GAMMA Investing LLC increased 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 worth $224,000 after purchasing an additional 1,330 shares in the last quarter. Finally, KBC Group NV increased its holdings in ATI by 12.9% in the 3rd quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 385 shares in the last quarter.

Insider Buying and Selling

In other ATI news, SVP Tina Killough Busch sold 2,598 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the transaction, the senior vice president now owns 21,553 shares in the company, valued at approximately $1,293,611.06. This represents a 10.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the transaction, the chairman now owns 436,443 shares in the company, valued at $25,745,772.57. This represents a 5.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,598 shares of company stock valued at $4,726,682 over the last 90 days. Company insiders own 0.71% of the company’s stock.

ATI Trading Down 1.6 %

Shares of ATI stock opened at $57.54 on Friday. The stock has a 50-day moving average of $60.19 and a 200-day moving average of $60.53. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.06 and a beta of 1.09. 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 released its earnings results 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 return on equity of 21.39% and a net margin of 8.85%. The business 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 business earned $0.55 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts forecast that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its board has authorized a share buyback 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ATI shares. Susquehanna lowered their target price on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, StockNews.com cut ATI from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Two investment analysts have 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.71.

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.