Hantz Financial Services Inc. Acquires New Holdings in ATI Inc. (NYSE:ATI)

Hantz Financial Services Inc. bought a new position in ATI Inc. (NYSE:ATI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,440 shares of the basic materials company’s stock, valued at approximately $765,000.

Other large investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of ATI by 1.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 580,194 shares of the basic materials company’s stock worth $38,821,000 after buying an additional 7,854 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ATI by 1.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,482 shares of the basic materials company’s stock worth $1,906,000 after acquiring an additional 531 shares during the period. Forest Avenue Capital Management LP bought a new position in shares of ATI in the third quarter worth $28,700,000. Glenmede Trust Co. NA increased its holdings in shares of ATI by 3.7% during the third quarter. Glenmede Trust Co. NA now owns 21,100 shares of the basic materials company’s stock valued at $1,412,000 after purchasing an additional 753 shares during the period. Finally, Townsquare Capital LLC bought a new stake in shares of ATI during the third quarter valued at about $286,000.

ATI Stock Performance

ATI stock opened at $60.17 on Monday. ATI Inc. has a fifty-two week low of $38.04 and a fifty-two week high of $68.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The company has a market cap of $8.58 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 2.08 and a beta of 1.08. The firm’s 50 day simple moving average is $60.82 and its 200-day simple moving average is $60.58.

ATI (NYSE:ATI) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 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 business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $0.55 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts predict that ATI Inc. will post 2.27 EPS for the current year.

ATI declared that its Board of Directors has approved a share repurchase plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to reacquire up to 9.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction 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 transaction, the chairman now directly owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ATI has been the subject of a number of research analyst reports. KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Susquehanna reduced their price objective 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. Benchmark reiterated a “buy” rating and issued a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.71.

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.