Algert Global LLC Buys 48,220 Shares of ATI Inc. (NYSE:ATI)

Algert Global LLC lifted its stake in shares of ATI Inc. (NYSE:ATI) by 197.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,632 shares of the basic materials company’s stock after acquiring an additional 48,220 shares during the period. Algert Global LLC owned 0.05% of ATI worth $4,860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted its position in shares of ATI by 3.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock worth $364,000 after purchasing an additional 224 shares in the last quarter. Jane Street Group LLC grew its stake in ATI by 11.0% in the first quarter. Jane Street Group LLC now owns 106,237 shares of the basic materials company’s stock valued at $5,436,000 after acquiring an additional 10,561 shares during the period. Tidal Investments LLC increased its holdings in shares of ATI by 143.8% during the first quarter. Tidal Investments LLC now owns 11,312 shares of the basic materials company’s stock valued at $579,000 after acquiring an additional 6,673 shares in the last quarter. Comerica Bank raised its position in shares of ATI by 137.2% during the first quarter. Comerica Bank now owns 141,243 shares of the basic materials company’s stock worth $7,227,000 after purchasing an additional 81,708 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 1,010 shares in the last quarter.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction that occurred 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. This represents a 4.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.05% of the company’s stock.

ATI Price Performance

Shares of NYSE:ATI opened at $59.30 on Monday. The company has a market capitalization of $8.46 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. The company’s 50-day moving average is $61.08 and its 200 day moving average is $60.60. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. ATI Inc. has a fifty-two week low of $38.04 and a fifty-two week high of $68.92.

ATI (NYSE:ATI) last issued its quarterly earnings results 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). ATI had a return on equity of 21.39% and a net margin of 8.85%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous 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 announced that its Board of Directors has initiated a share repurchase plan on Tuesday, September 3rd that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

ATI has been the topic of several research reports. Benchmark restated a “buy” rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. Susquehanna dropped their price target 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. Deutsche Bank Aktiengesellschaft boosted their price objective 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. raised their target price on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, ATI currently has a consensus rating of “Moderate Buy” and an average target price 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.