ATI Inc. (NYSE:ATI) Shares Acquired by Cwm LLC

Cwm LLC boosted its position in ATI Inc. (NYSE:ATI) by 5,005.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,174 shares of the basic materials company’s stock after acquiring an additional 34,485 shares during the quarter. Cwm LLC’s holdings in ATI were worth $2,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in ATI in the second quarter valued at $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in ATI in the first quarter valued at about $51,000. EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 1,010 shares during the period. Quest Partners LLC purchased a new position in ATI in the second quarter valued at about $88,000. Finally, GAMMA Investing LLC raised its position in ATI by 46.5% in the first quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock valued at $96,000 after purchasing an additional 593 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have commented on ATI. BTIG Research began coverage on ATI in a research report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price objective on the stock. Susquehanna began coverage on ATI in a research report on Thursday, September 5th. They issued a “positive” rating and a $75.00 price objective 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. Deutsche Bank Aktiengesellschaft lifted their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lifted their target price on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, ATI presently has an average rating of “Moderate Buy” and a consensus target price of $74.43.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s 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 completion of the transaction, the chairman now directly owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.

ATI Trading Down 1.2 %

Shares of NYSE ATI opened at $62.77 on Tuesday. The stock’s 50 day moving average price is $63.32 and its two-hundred day moving average price is $59.39. ATI Inc. has a 52-week low of $35.03 and a 52-week high of $68.92. The stock has a market capitalization of $7.81 billion, a P/E ratio of 25.21, a PEG ratio of 1.42 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 (NYSE:ATI) last announced its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $1.10 billion for 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%. ATI’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 earnings per share. On average, analysts anticipate that ATI Inc. will post 2.47 earnings per share for the current fiscal year.

ATI declared that its board has approved a stock buyback plan on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the basic materials company to purchase up to 9.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are 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.