ATI Inc. (NYSE:ATI) Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its stake in shares of ATI Inc. (NYSE:ATI) by 79.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,329 shares of the basic materials company’s stock after selling 300,070 shares during the period. Citigroup Inc.’s holdings in ATI were worth $5,308,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ATI. Sequoia Financial Advisors LLC lifted its position in shares of ATI by 3.3% in the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock valued at $360,000 after acquiring an additional 172 shares in the last quarter. Beck Capital Management LLC lifted its holdings in ATI by 0.8% in the 2nd quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock valued at $1,898,000 after purchasing an additional 262 shares in the last quarter. KBC Group NV boosted its stake in ATI by 12.9% during the 3rd quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 385 shares during the last quarter. Souders Financial Advisors grew its holdings in shares of ATI by 6.1% during the third quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock worth $477,000 after buying an additional 411 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its position in shares of ATI by 7.5% in the third quarter. Apollon Wealth Management LLC now owns 6,514 shares of the basic materials company’s stock valued at $436,000 after buying an additional 457 shares during the last quarter.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the sale, the chairman now directly owns 511,443 shares in the company, valued at $31,510,003.23. This represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

ATI Stock Performance

NYSE ATI opened at $60.17 on Monday. The stock has a fifty day simple moving average of $60.82 and a 200-day simple moving average of $60.58. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The stock has a market cap of $8.58 billion, a PE ratio of 23.14, a P/E/G ratio of 2.08 and a beta of 1.08. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92.

ATI (NYSE:ATI) last announced its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the business earned $0.55 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts anticipate that ATI Inc. will post 2.27 earnings per share for the current year.

ATI announced that its Board of Directors has authorized a stock 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 purchase up to 9.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are 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.