Headlands Technologies LLC Purchases Shares of 8,210 ATI Inc. (NYSE:ATI)

Headlands Technologies LLC acquired a new position in shares of ATI Inc. (NYSE:ATI) in the second quarter, HoldingsChannel reports. The fund acquired 8,210 shares of the basic materials company’s stock, valued at approximately $455,000.

Several other large investors have also made changes to their positions in the company. Capital International Investors increased its stake in ATI by 1.3% during the first quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock worth $788,524,000 after acquiring an additional 203,012 shares during the last quarter. Vanguard Group Inc. increased its position in ATI by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock worth $733,720,000 after purchasing an additional 132,478 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in ATI by 19.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock worth $165,767,000 after purchasing an additional 594,644 shares in the last quarter. Capital World Investors raised its holdings in ATI by 43.9% in the first quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock valued at $145,372,000 after buying an additional 866,310 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in ATI by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,722 shares of the basic materials company’s stock valued at $105,394,000 after buying an additional 139,694 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. Northcoast Research downgraded ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. KeyCorp raised their target price on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Susquehanna initiated coverage on ATI in a report on Thursday, September 5th. They issued a “positive” rating and a $75.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, ATI presently has a consensus rating of “Moderate Buy” and an average price target of $74.00.

ATI Stock Performance

ATI stock opened at $62.20 on Friday. ATI Inc. has a 52 week low of $35.03 and a 52 week high of $68.92. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. The stock has a market cap of $7.74 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The stock has a 50 day moving average of $62.01 and a 200-day moving average of $56.98.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.59 EPS. On average, analysts expect that ATI Inc. will post 2.48 EPS for the current fiscal year.

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

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.