Royce & Associates LP Lowers Stock Holdings in ATI Inc. (NYSE:ATI)

Royce & Associates LP decreased its position in shares of ATI Inc. (NYSE:ATI) by 14.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 226,122 shares of the basic materials company’s stock after selling 39,090 shares during the quarter. Royce & Associates LP owned approximately 0.16% of ATI worth $15,130,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP bought a new stake in ATI in the 2nd quarter valued at $26,000. UMB Bank n.a. increased its holdings in ATI by 557.0% in the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 1,010 shares during the last quarter. Quest Partners LLC bought a new stake in ATI in the 2nd quarter valued at $88,000. Finally, 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 valued at $224,000 after acquiring an additional 1,330 shares during the last quarter.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the sale, the chairman now owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on ATI shares. Benchmark reiterated a “buy” rating and issued a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Susquehanna reduced their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One equities research analyst has 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.71.

ATI Price Performance

ATI stock opened at $56.16 on Friday. The stock has a market cap of $8.01 billion, a PE ratio of 21.60, a P/E/G ratio of 2.01 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 Inc. has a 12 month low of $38.04 and a 12 month high of $68.92. The company has a 50-day moving average price of $61.36 and a 200 day moving average price of $60.61.

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

ATI announced that its Board of Directors has authorized a stock repurchase program on Tuesday, September 3rd that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.