Squarepoint Ops LLC Boosts Position in ATI Inc. (NYSE:ATI)

Squarepoint Ops LLC boosted its position in shares of ATI Inc. (NYSE:ATI) by 739.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 308,355 shares of the basic materials company’s stock after acquiring an additional 271,613 shares during the quarter. Squarepoint Ops LLC’s holdings in ATI were worth $17,098,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ATI. Benjamin F. Edwards & Company Inc. purchased a new stake in ATI during the first quarter valued at $51,000. EverSource Wealth Advisors LLC grew its holdings in ATI by 294.5% during 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 bought a new stake in ATI during the second quarter valued at about $88,000. GAMMA Investing LLC grew its holdings in ATI by 46.5% during 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. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in ATI by 211.5% during 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 purchasing an additional 1,800 shares during the period.

Insider Activity at ATI

In related 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 completion of the transaction, the chairman now directly owns 511,443 shares of the company’s stock, valued at $31,510,003.23. The sale was disclosed in a filing with the SEC, which is available through this link. 0.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on ATI shares. Deutsche Bank Aktiengesellschaft boosted their price target on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. BTIG Research started coverage on ATI in a report on Wednesday, June 26th. They set a “buy” rating and a $70.00 price target for the company. Northcoast Research lowered ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. Susquehanna started coverage on ATI in a report on Thursday, September 5th. They set a “positive” rating and a $75.00 price target for the company. Finally, Benchmark reissued a “buy” rating and set a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ATI has a consensus rating of “Moderate Buy” and an average price target of $74.00.

ATI Stock Performance

NYSE ATI opened at $65.32 on Friday. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.58 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. The business has a 50-day moving average price of $63.01 and a 200-day moving average price of $57.97. ATI Inc. has a twelve month low of $35.03 and a twelve month high of $68.92.

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

ATI declared that its Board of Directors has approved a share repurchase plan on Tuesday, September 3rd that permits the company to buyback $700.00 million in shares. This buyback authorization permits the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management 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.