Farmers & Merchants Investments Inc. Reduces Position in ATI Inc. (NYSE:ATI)

Farmers & Merchants Investments Inc. lowered its stake in ATI Inc. (NYSE:ATI) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,360 shares of the basic materials company’s stock after selling 2,256 shares during the period. Farmers & Merchants Investments Inc.’s holdings in ATI were worth $3,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ATI. Bornite Capital Management LP acquired a new stake in ATI during the 4th quarter worth about $10,003,000. SG Americas Securities LLC lifted its holdings in shares of ATI by 202.7% during the second quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company’s stock worth $1,522,000 after purchasing an additional 18,381 shares during the period. Goldman Sachs Group Inc. boosted its position in ATI by 31.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,306,784 shares of the basic materials company’s stock valued at $59,419,000 after buying an additional 315,506 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in ATI in the 1st quarter worth approximately $763,000. Finally, First Hawaiian Bank purchased a new position in ATI during the 2nd quarter worth approximately $757,000.

ATI Stock Down 3.0 %

ATI stock opened at $58.15 on Friday. 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 stock has a market capitalization of $7.24 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 1.46 and a beta of 1.04. The business has a 50 day simple moving average of $61.67 and a 200-day simple moving average of $56.58. 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 results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. On average, analysts anticipate that ATI Inc. will post 2.48 EPS for the current fiscal year.

ATI declared that its Board of Directors has authorized a share buyback plan on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently commented on ATI shares. BTIG Research started coverage on shares of ATI in a report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and set a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. Northcoast Research cut ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. raised 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ATI presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

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.