Wealth Enhancement Advisory Services LLC Boosts Holdings in ATI Inc. (NYSE:ATI)

Wealth Enhancement Advisory Services LLC boosted its position in shares of ATI Inc. (NYSE:ATI) by 13.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,333 shares of the basic materials company’s stock after acquiring an additional 1,936 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ATI were worth $1,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its position in ATI by 3.3% during 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 during the last quarter. O Shaughnessy Asset Management LLC increased its stake 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 valued at $364,000 after purchasing an additional 224 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in ATI by 4.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock valued at $299,000 after purchasing an additional 239 shares in the last quarter. Beck Capital Management LLC increased its stake in ATI by 0.8% during 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. Finally, Nvwm LLC increased its stake in ATI by 2.1% during the 1st 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 in the last quarter.

ATI Stock Up 0.9 %

NYSE:ATI opened at $54.01 on Wednesday. The firm has a market capitalization of $7.70 billion, a P/E ratio of 20.77, a PEG ratio of 1.85 and a beta of 1.08. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The company’s fifty day moving average price is $62.24 and its 200-day moving average price is $60.31. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 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 quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 EPS. As a group, equities research analysts anticipate that ATI Inc. will post 2.27 EPS for the current year.

ATI declared that its board has initiated a stock buyback plan on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 9.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

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

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction on 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 sale, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.05% of the stock is owned by company insiders.

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.