ATI Inc. (NYSE:ATI) Stock Holdings Lessened by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC cut its stake in shares of ATI Inc. (NYSE:ATI) by 21.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,274 shares of the basic materials company’s stock after selling 12,304 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in ATI were worth $2,455,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Capital International Investors increased 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 worth $788,524,000 after acquiring an additional 203,012 shares during the period. Vanguard Group Inc. grew its stake in shares of ATI by 0.9% in the first 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 holdings in shares of ATI by 19.5% during the fourth 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 purchasing an additional 594,644 shares during the period. Capital World Investors raised its stake in shares of ATI by 43.9% during 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 purchasing an additional 866,310 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in ATI by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock worth $139,003,000 after purchasing an additional 102,691 shares during the period.

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction on 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 sale, the chairman now owns 511,443 shares in the company, valued at $31,510,003.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ATI shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted 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. BTIG Research initiated coverage on ATI in a research note on Wednesday, June 26th. They set a “buy” rating and a $70.00 price target for the company. Benchmark restated a “buy” rating and issued a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. Finally, Northcoast Research lowered ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, ATI currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

ATI Trading Up 1.4 %

Shares of ATI opened at $66.26 on Friday. The business’s 50-day moving average price is $63.16 and its 200 day moving average price is $58.09. 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 capitalization of $8.25 billion, a P/E ratio of 26.61, a P/E/G ratio of 1.58 and a beta of 1.04. ATI Inc. has a 1-year low of $35.03 and a 1-year high of $68.92.

ATI (NYSE:ATI) last announced its 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. ATI had a net margin of 8.74% and a return on equity of 23.05%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. 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 stock 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 purchase up to 9.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are 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.