19,112 Shares in ATI Inc. (NYSE:ATI) Purchased by L & S Advisors Inc

L & S Advisors Inc acquired a new position in ATI Inc. (NYSE:ATI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,112 shares of the basic materials company’s stock, valued at approximately $1,279,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in ATI during the second quarter worth about $26,000. UMB Bank n.a. boosted its holdings in ATI by 557.0% during the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after buying an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in 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 buying an additional 1,010 shares during the last quarter. Quest Partners LLC bought a new position in ATI during the second quarter worth about $88,000. Finally, nVerses Capital LLC bought a new position in ATI during the second quarter worth about $205,000.

Analyst Ratings Changes

ATI has been the topic of a number of recent analyst reports. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Benchmark reiterated a “buy” rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted 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. Deutsche Bank Aktiengesellschaft lifted 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 dropped their target price on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. One 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.71.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction 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. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.

ATI Stock Down 0.2 %

NYSE:ATI opened at $57.90 on Friday. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The stock’s 50 day moving average price is $61.13 and its two-hundred day moving average price is $60.59. 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 posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share 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 analyst estimates 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 previous year, the firm posted $0.55 earnings per share. Equities research analysts expect that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

ATI declared that its board has authorized a share repurchase 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 repurchase up to 9.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.