Orion Portfolio Solutions LLC Increases Stock Position in ATI Inc. (NYSE:ATI)

Orion Portfolio Solutions LLC raised its holdings in ATI Inc. (NYSE:ATI) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,300 shares of the basic materials company’s stock after purchasing an additional 633 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in ATI were worth $555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC lifted its position in shares of ATI by 4,401.2% during the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock valued at $629,683,000 after acquiring an additional 9,201,818 shares during the period. Millennium Management LLC lifted its position in shares of ATI by 165.1% during the 2nd quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock valued at $107,846,000 after acquiring an additional 1,211,273 shares during the period. Senator Investment Group LP lifted its position in shares of ATI by 167.6% during the 2nd quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company’s stock valued at $49,414,000 after acquiring an additional 558,138 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of ATI during the 2nd quarter valued at approximately $28,896,000. Finally, Forest Avenue Capital Management LP acquired a new stake in shares of ATI during the 3rd quarter valued at approximately $28,700,000.

Insiders Place Their Bets

In other ATI news, SVP Tina Killough Busch sold 2,598 shares of ATI stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following the completion of the sale, the senior vice president now directly owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. The trade was a 10.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the sale, the chairman now directly owns 436,443 shares of the company’s stock, valued at $25,745,772.57. This represents a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,598 shares of company stock valued at $3,186,432. Company insiders own 1.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Susquehanna cut their price objective on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, ATI currently has a consensus rating of “Moderate Buy” and an average price target of $73.71.

ATI Stock Down 2.3 %

ATI stock opened at $55.25 on Wednesday. The stock has a market capitalization of $7.88 billion, a P/E ratio of 21.25, a PEG ratio of 1.95 and a beta of 1.09. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. ATI Inc. has a one year low of $38.04 and a one year high of $68.92. The company has a 50 day moving average price of $58.98 and a two-hundred day moving average price of $60.33.

ATI (NYSE:ATI) last released its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share. As a group, sell-side analysts expect that ATI Inc. will post 2.27 EPS for the current year.

ATI announced that its Board of Directors has initiated 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 often a sign that the company’s leadership believes its shares are undervalued.

ATI 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.