AQR Capital Management LLC Has $703,000 Stock Holdings in ATI Inc. (NYSE:ATI)

AQR Capital Management LLC reduced its position in shares of ATI Inc. (NYSE:ATI) by 27.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,680 shares of the basic materials company’s stock after selling 4,845 shares during the period. AQR Capital Management LLC’s holdings in ATI were worth $703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ATI. PNC Financial Services Group Inc. lifted its stake in ATI by 0.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock valued at $3,822,000 after purchasing an additional 216 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in ATI by 3.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock worth $364,000 after acquiring an additional 224 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in ATI by 4.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock worth $299,000 after purchasing an additional 239 shares in the last quarter. Beck Capital Management LLC increased 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 worth $1,898,000 after purchasing an additional 262 shares in the last quarter. Finally, Nvwm LLC raised its position in ATI by 2.1% in the first quarter. Nvwm LLC now owns 16,177 shares of the basic materials company’s stock valued at $828,000 after purchasing an additional 334 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ATI shares. Deutsche Bank Aktiengesellschaft boosted their price target on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. BTIG Research started coverage on shares of ATI in a research note on Wednesday, June 26th. They set a “buy” rating and a $70.00 price target for the company. Susquehanna assumed coverage on shares of ATI in a research note on Thursday, September 5th. They issued a “positive” rating and a $75.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Benchmark reissued a “buy” rating and issued a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.43.

ATI Trading Up 1.0 %

NYSE ATI opened at $63.56 on Monday. ATI Inc. has a one year low of $35.03 and a one year high of $68.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. The business has a 50 day simple moving average of $63.28 and a 200 day simple moving average of $59.30. The stock has a market capitalization of $7.91 billion, a P/E ratio of 25.53, a P/E/G ratio of 1.42 and a beta of 1.04.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, topping 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 business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business earned $0.59 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts expect that ATI Inc. will post 2.47 earnings per share for the current year.

ATI declared that its board has authorized a stock buyback program on Tuesday, September 3rd that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the transaction, the chairman now owns 511,443 shares of the company’s stock, valued at $31,510,003.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is currently 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.