GSA Capital Partners LLP Buys 1,021 Shares of ATI Inc. (NYSE:ATI)

GSA Capital Partners LLP lifted its stake in shares of ATI Inc. (NYSE:ATI) by 15.1% during the third quarter, HoldingsChannel.com reports. The firm owned 7,763 shares of the basic materials company’s stock after purchasing an additional 1,021 shares during the quarter. GSA Capital Partners LLP’s holdings in ATI were worth $519,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP bought a new position in ATI in the 2nd quarter worth about $26,000. UMB Bank n.a. increased its stake in ATI by 557.0% in the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 1,010 shares during the last quarter. Quest Partners LLC bought a new position in ATI in the 2nd quarter worth about $88,000. Finally, nVerses Capital LLC bought a new position in ATI in the 2nd quarter worth about $205,000.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was 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 in the company, valued at approximately $31,510,003.23. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is currently owned by company insiders.

ATI Trading Up 2.5 %

Shares of ATI stock opened at $58.23 on Wednesday. The stock has a market capitalization of $8.31 billion, a PE ratio of 22.40, a P/E/G ratio of 1.94 and a beta of 1.08. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. The business has a 50-day moving average of $61.28 and a 200 day moving average of $60.62. 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 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). The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, sell-side analysts anticipate that ATI Inc. will post 2.27 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Susquehanna decreased their target price on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Benchmark reiterated a “buy” rating and issued a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price objective on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One investment 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.71.

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.