UMB Bank n.a. Boosts Holdings in ATI Inc. (NYSE:ATI)

UMB Bank n.a. boosted its position in ATI Inc. (NYSE:ATI) by 557.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 933 shares of the basic materials company’s stock after acquiring an additional 791 shares during the quarter. UMB Bank n.a.’s holdings in ATI were worth $62,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in ATI in the second quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. acquired a new stake in ATI during the first quarter worth approximately $51,000. EverSource Wealth Advisors LLC raised 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 worth $69,000 after purchasing an additional 1,010 shares in the last quarter. Quest Partners LLC acquired a new stake in ATI during the second quarter worth approximately $88,000. Finally, GAMMA Investing LLC raised 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 worth $96,000 after purchasing an additional 593 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. BTIG Research assumed coverage on shares of ATI in a report on Wednesday, June 26th. They set a “buy” rating and a $70.00 price objective on the stock. Susquehanna assumed coverage on shares of ATI in a report on Thursday, September 5th. They set a “positive” rating and a $75.00 price objective on the stock. KeyCorp raised their price objective on shares of ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.43.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Monday, September 16th. The shares were sold at an average price of $61.61, for a total value of $1,540,250.00. Following the transaction, the chairman now directly owns 511,443 shares in the company, valued at $31,510,003.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.71% of the stock is currently owned by insiders.

ATI Stock Performance

Shares of ATI stock opened at $62.77 on Tuesday. The firm’s fifty day simple moving average is $63.32 and its 200-day simple moving average is $59.39. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.42 and a beta of 1.04. ATI Inc. has a 12 month low of $35.03 and a 12 month high of $68.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm posted $0.59 EPS. ATI’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that ATI Inc. will post 2.47 earnings per share for the current year.

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