ATI Inc. (NYSE:ATI) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its position in ATI Inc. (NYSE:ATI) by 79.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,529 shares of the basic materials company’s stock after selling 169,192 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ATI were worth $2,846,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of ATI in the 2nd quarter valued at approximately $26,000. UMB Bank n.a. increased its holdings in ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after buying an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in ATI by 294.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after buying an additional 1,010 shares during the last quarter. Quest Partners LLC purchased a new position in shares of ATI in the 2nd quarter valued at about $88,000. Finally, nVerses Capital LLC acquired a new stake in shares of ATI during the 2nd quarter worth about $205,000.

ATI Price Performance

Shares of ATI opened at $58.76 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. ATI Inc. has a fifty-two week low of $38.04 and a fifty-two week high of $68.92. The firm has a 50-day simple moving average of $61.50 and a 200-day simple moving average of $60.63. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 earnings per share. On average, equities research analysts anticipate that ATI Inc. will post 2.27 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

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

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’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 completion of the transaction, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is currently owned by insiders.

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.