ATI Inc. (NYSE:ATI) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in ATI Inc. (NYSE:ATI) by 67.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 162,753 shares of the basic materials company’s stock after purchasing an additional 65,753 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in ATI were worth $9,025,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ATI. Benjamin F. Edwards & Company Inc. acquired a new position in ATI in the 1st quarter valued at about $51,000. EverSource Wealth Advisors LLC raised its stake in shares of ATI by 294.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 1,010 shares in the last quarter. Quest Partners LLC acquired a new stake in ATI in the second quarter valued at $88,000. GAMMA Investing LLC increased its position in shares of ATI by 46.5% during the first quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 593 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in ATI by 211.5% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock valued at $121,000 after buying an additional 1,800 shares during the last quarter.

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on 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 transaction, the chairman now owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Susquehanna started coverage on shares of ATI in a research report on Thursday, September 5th. They set a “positive” rating and a $75.00 price objective for the company. KeyCorp raised their price objective on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Benchmark reaffirmed a “buy” rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Northcoast Research lowered shares of ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. One equities research 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. According to MarketBeat, ATI has an average rating of “Moderate Buy” and an average price target of $74.00.

ATI Stock Up 1.2 %

Shares of NYSE ATI opened at $65.42 on Thursday. ATI Inc. has a 12-month low of $35.03 and a 12-month high of $68.92. The stock has a fifty day moving average price of $62.88 and a 200 day moving average price of $57.92. 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 company has a market cap of $8.14 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.59 and a beta of 1.04.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business 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 business’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 earnings per share. Research analysts anticipate that ATI Inc. will post 2.48 EPS for the current fiscal year.

ATI declared that its Board of Directors has initiated a share repurchase 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 repurchase up to 9.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.