Zurcher Kantonalbank Zurich Cantonalbank Has $1.91 Million Position in ATI Inc. (NYSE:ATI)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in ATI Inc. (NYSE:ATI) by 1.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 28,482 shares of the basic materials company’s stock after purchasing an additional 531 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ATI were worth $1,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ATI. Jane Street Group LLC increased its position in ATI by 11.0% during the 1st quarter. Jane Street Group LLC now owns 106,237 shares of the basic materials company’s stock worth $5,436,000 after purchasing an additional 10,561 shares in the last quarter. Tidal Investments LLC increased its position in ATI by 143.8% during the 1st quarter. Tidal Investments LLC now owns 11,312 shares of the basic materials company’s stock worth $579,000 after purchasing an additional 6,673 shares in the last quarter. SG Americas Securities LLC increased its position in ATI by 202.7% during the 2nd quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company’s stock worth $1,522,000 after purchasing an additional 18,381 shares in the last quarter. Friedenthal Financial acquired a new position in ATI during the 2nd quarter worth approximately $782,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in ATI by 22.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,397 shares of the basic materials company’s stock worth $798,000 after purchasing an additional 2,646 shares in the last quarter.

ATI Stock Up 0.3 %

Shares of NYSE ATI opened at $59.90 on Thursday. The firm has a market cap of $8.54 billion, a PE ratio of 23.04, a P/E/G ratio of 2.06 and a beta of 1.09. ATI Inc. has a 12-month low of $38.04 and a 12-month high of $68.92. The company’s fifty day simple moving average is $60.61 and its 200 day simple moving average is $60.57. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97.

ATI (NYSE:ATI) last issued its 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). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. As a group, sell-side analysts forecast that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

ATI declared that its board has authorized a stock buyback program 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction 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 transaction, the chairman now owns 511,443 shares in the company, valued at approximately $31,510,003.23. This represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.05% of the stock is owned by insiders.

Analyst Ratings Changes

ATI has been the subject of a number of research analyst reports. StockNews.com cut shares of ATI from a “hold” rating to a “sell” rating in a research report on Monday. Susquehanna decreased their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.