WINTON GROUP Ltd Boosts Stake in ATI Inc. (NYSE:ATI)

WINTON GROUP Ltd increased its stake in shares of ATI Inc. (NYSE:ATI) by 138.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,485 shares of the basic materials company’s stock after buying an additional 18,842 shares during the quarter. WINTON GROUP Ltd’s holdings in ATI were worth $1,801,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ATI. Benjamin F. Edwards & Company Inc. purchased a new stake in ATI during the 1st quarter valued at about $51,000. EverSource Wealth Advisors LLC lifted its holdings in shares of ATI by 294.5% during the first 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 during the period. Quest Partners LLC purchased a new stake in ATI in the second quarter valued at approximately $88,000. GAMMA Investing LLC increased its holdings in ATI by 46.5% in the 1st quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock worth $96,000 after buying an additional 593 shares during the period. Finally, Edmond DE Rothschild Holding S.A. raised its position in ATI by 211.5% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock worth $121,000 after buying an additional 1,800 shares during the last quarter.

ATI Stock Down 0.7 %

ATI stock opened at $61.77 on Monday. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.52 and a beta of 1.04. ATI Inc. has a twelve month low of $35.03 and a twelve month high of $68.92. The stock has a 50 day moving average of $62.12 and a two-hundred day moving average of $57.20. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. ATI’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. As a group, research analysts expect that ATI Inc. will post 2.48 earnings per share for the current year.

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

Analysts Set New Price Targets

Several analysts have recently commented on ATI shares. Benchmark reaffirmed a “buy” rating and issued a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. BTIG Research started coverage on shares of ATI in a report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price target on the stock. Northcoast Research downgraded ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. boosted their price objective on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.00.

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.