ATI Inc. (NYSE:ATI) Shares Acquired by Amalgamated Bank

Amalgamated Bank lifted its position in shares of ATI Inc. (NYSE:ATI) by 17.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,249 shares of the basic materials company’s stock after buying an additional 6,876 shares during the quarter. Amalgamated Bank’s holdings in ATI were worth $2,620,000 at the end of the most recent quarter.

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

ATI Stock Down 0.6 %

ATI opened at $64.64 on Wednesday. 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 $8.04 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The business has a 50-day moving average of $62.77 and a two-hundred day moving average of $57.87. ATI Inc. has a 12 month low of $35.03 and a 12 month high of $68.92.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. On average, research analysts expect that ATI Inc. will post 2.48 earnings per share for the current year.

ATI announced that its Board of Directors has initiated a share buyback program on Tuesday, September 3rd that permits the company to buyback $700.00 million in shares. This buyback authorization permits the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $61.61, for a total transaction 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ATI shares. JPMorgan Chase & Co. lifted their price objective on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Susquehanna started coverage on ATI in a research report on Thursday, September 5th. They set a “positive” rating and a $75.00 price objective for the company. Northcoast Research cut ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. Benchmark reiterated a “buy” rating and set a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.00.

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.