Mercer Global Advisors Inc. ADV Invests $217,000 in ATI Inc. (NYSE:ATI)

Mercer Global Advisors Inc. ADV purchased a new position in shares of ATI Inc. (NYSE:ATI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,907 shares of the basic materials company’s stock, valued at approximately $217,000.

Other large investors have also modified their holdings of the company. Capital International Investors boosted its position in ATI by 1.3% in the first quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock valued at $788,524,000 after buying an additional 203,012 shares during the last quarter. Vanguard Group Inc. boosted its position in ATI by 0.9% in the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock valued at $733,720,000 after buying an additional 132,478 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in ATI by 19.5% in 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 buying an additional 594,644 shares during the last quarter. Capital World Investors boosted its position in ATI by 43.9% in 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 buying an additional 866,310 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 valued at $139,003,000 after buying an additional 102,691 shares during the last quarter.

ATI Trading Up 1.0 %

Shares of ATI stock opened at $66.91 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.62 and a beta of 1.04. The stock has a 50 day simple moving average of $63.31 and a 200-day simple moving average of $58.35. 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 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 EPS. On average, equities research analysts expect that ATI Inc. will post 2.48 EPS for the current fiscal year.

ATI announced that its Board of Directors has approved a stock buyback program on Tuesday, September 3rd that permits the company to buyback $700.00 million in shares. This buyback authorization permits the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’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 sale, the chairman now directly owns 511,443 shares in the company, valued at $31,510,003.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Benchmark reiterated a “buy” rating and issued a $80.00 target price on shares of ATI in a research report on Wednesday, August 7th. KeyCorp boosted their price target on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, August 12th. 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 began coverage on ATI in a report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price target for the company. Finally, Susquehanna began coverage on ATI in a report on Thursday, September 5th. They issued a “positive” rating and a $75.00 price target for the company. One equities research 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.00.

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.