Cubist Systematic Strategies LLC Buys Shares of 286,186 ATI Inc. (NYSE:ATI)

Cubist Systematic Strategies LLC bought a new stake in ATI Inc. (NYSE:ATI) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 286,186 shares of the basic materials company’s stock, valued at approximately $15,869,000.

A number of other large investors have also recently modified their holdings of the business. Capital International Investors boosted its holdings in shares of ATI by 1.3% in the 1st quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock valued at $788,524,000 after purchasing an additional 203,012 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of ATI by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock valued at $733,720,000 after acquiring an additional 132,478 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of 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 valued at $165,767,000 after acquiring an additional 594,644 shares in the last quarter. Capital World Investors boosted its holdings in shares of ATI by 43.9% during the 1st quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock valued at $145,372,000 after acquiring an additional 866,310 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of ATI by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after acquiring an additional 102,691 shares in the last quarter.

Insider Transactions at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated 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 transaction, the chairman now directly owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ATI shares. BTIG Research started coverage on ATI in a report on Wednesday, June 26th. They set a “buy” rating and a $70.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. KeyCorp raised their price objective on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Benchmark reissued a “buy” rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. Finally, Northcoast Research downgraded ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.00.

ATI Stock Down 0.6 %

Shares of NYSE:ATI opened at $64.64 on Wednesday. The firm has a market cap of $8.05 billion, a P/E ratio of 25.96, a P/E/G ratio of 1.59 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 1.26. ATI Inc. has a 12-month low of $35.03 and a 12-month high of $68.92. The business has a fifty day simple moving average of $62.77 and a 200 day simple moving average of $57.87.

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

ATI declared that its board has authorized a stock buyback 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 purchase up to 9.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

About ATI

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.