ATI Inc. (NYSE:ATI) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its holdings in shares of ATI Inc. (NYSE:ATI) by 16.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 658,312 shares of the basic materials company’s stock after selling 128,425 shares during the period. Fisher Asset Management LLC owned about 0.46% of ATI worth $44,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ATI. O Shaughnessy Asset Management LLC lifted its holdings in shares of ATI by 3.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock valued at $364,000 after buying an additional 224 shares during the period. Jane Street Group LLC lifted its holdings 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 boosted its position in ATI by 143.8% in 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. Comerica Bank boosted its position in ATI by 137.2% in the 1st 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 in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of ATI by 294.5% during 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 during the period.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the transaction, the chairman now owns 486,443 shares of the company’s stock, valued at $30,271,347.89. This represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ATI. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Benchmark restated a “buy” rating and issued a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price objective on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Susquehanna reduced their target price on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, ATI presently has an average rating of “Moderate Buy” and a consensus target price of $73.71.

ATI Stock Up 0.8 %

Shares of ATI opened at $60.63 on Wednesday. The stock has a 50 day moving average price of $61.05 and a 200 day moving average price of $60.59. ATI Inc. has a one year low of $38.04 and a one year high of $68.92. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 2.05 and a beta of 1.08.

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

ATI declared that its Board of Directors has authorized a stock buyback program on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

About ATI

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.