Inspire Investing LLC Has $348,000 Holdings in ATI Inc. (NYSE:ATI)

Inspire Investing LLC lowered its holdings in ATI Inc. (NYSE:ATI) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,280 shares of the basic materials company’s stock after selling 724 shares during the period. Inspire Investing LLC’s holdings in ATI were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. acquired a new position in ATI during the first quarter valued at approximately $51,000. EverSource Wealth Advisors LLC boosted its holdings in shares of ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after buying an additional 1,010 shares during the last quarter. Quest Partners LLC bought a new position in shares of ATI in the second quarter valued at $88,000. GAMMA Investing LLC increased its holdings in ATI by 46.5% during the first quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock worth $96,000 after buying an additional 593 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in ATI by 211.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock worth $121,000 after buying an additional 1,800 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ATI. BTIG Research began coverage on shares of ATI in a research report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft upped their price objective on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. KeyCorp lifted their target price on ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Finally, Benchmark restated a “buy” rating and issued a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.00.

ATI Price Performance

ATI stock opened at $64.64 on Wednesday. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.51 and a beta of 1.04. The stock’s 50 day moving average is $62.77 and its 200-day moving average is $57.87. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. ATI Inc. has a 12 month low of $35.03 and a 12 month high of $68.92.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. ATI had a return on equity of 23.05% and a net margin of 8.74%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts expect that ATI Inc. will post 2.48 EPS for the current year.

ATI announced that its board has authorized a share repurchase plan on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the basic materials company to repurchase up to 9.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

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 value of $1,540,250.00. Following the completion of the sale, the chairman now owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is owned by insiders.

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.