ATI Inc. (NYSE:ATI) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC lessened its position in shares of ATI Inc. (NYSE:ATI) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,654 shares of the basic materials company’s stock after selling 3,831 shares during the period. Pathstone Holdings LLC’s holdings in ATI were worth $4,527,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ATI. Millennium Management LLC lifted its stake in ATI by 165.1% during the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock worth $107,846,000 after purchasing an additional 1,211,273 shares during the last quarter. Senator Investment Group LP lifted its position in shares of ATI by 167.6% in the 2nd quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company’s stock worth $49,414,000 after buying an additional 558,138 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of ATI in the 2nd quarter worth about $28,896,000. Cubist Systematic Strategies LLC bought a new stake in shares of ATI during the 2nd quarter valued at about $15,869,000. Finally, Squarepoint Ops LLC grew its position in shares of ATI by 739.2% during the 2nd quarter. Squarepoint Ops LLC now owns 308,355 shares of the basic materials company’s stock valued at $17,098,000 after buying an additional 271,613 shares during the last quarter.

Wall Street Analysts Forecast Growth

ATI has been the subject of a number of research reports. KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price 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 cut their price target on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, ATI presently has an average rating of “Moderate Buy” and an average price target of $73.71.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the transaction, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.71% of the stock is owned by corporate insiders.

ATI Price Performance

NYSE ATI opened at $59.30 on Friday. ATI Inc. has a 12 month low of $38.04 and a 12 month high of $68.92. The firm has a market capitalization of $8.46 billion, a PE ratio of 22.81, a P/E/G ratio of 2.01 and a beta of 1.08. The company’s 50 day simple moving average is $61.08 and its 200 day simple moving average is $60.59. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44.

ATI (NYSE:ATI) last issued its quarterly 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 firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. As a group, equities research analysts forecast that ATI Inc. will post 2.27 EPS for the current fiscal year.

ATI announced that its Board of Directors has authorized a share buyback program on Tuesday, September 3rd that allows the company to buyback $700.00 million in shares. This buyback authorization allows the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

ATI Company 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.